GBP/AUD: Channel Continuation Likely

GBP/AUD: Channel Continuation Likely

Bullish:  We are currently @ 1.8888 in a nice channel and a possible 5th wave. If we can break here, we are looking for a continuation to the ATR target @ 1.8973  with the further target  the 0.618 Fibo @ 1.9023 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 124 pips per day and it’s 90 day average is 1221 pips per day. USDX is threatening up.



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