Bearish: GBP/NZD currently at 2.0544 in a 3rd wave. We are looking for a continuation to the ATR at 2.0454 with an overall target the 4.236 Fibo at 2.0314. Watch the USDX for direction.
The average daily true range (ATR) for the pair is 168 pips per day and it’s 90 day average is 167 pips per day. USDX is currently moving down.
