Bearish: GBP/AUD is currently at 1.7401in a range and a channel. We are looking for a continuation to the ATR target at 1.7277 area with a further target for the Day chart target at 1.7218.
We have convergence in play for continuation. Watch the USDX for direction. The average daily true range (ATR) for the pair is 163 pips and its 180-day average is 172 pips per day. USDX is currently threatening down.
