Bearish: We are currently at 1.9341 in a range-bound channel. We are looking for a continuation of the ATR target @ 1.9280 with the additional target in the 0.786 Fibonacci area @ 1.9242. Look at USDX for direction. The average daily true range (ATR) for the pair is 106 pips per day and its 90-day average is 131 pips per day. USDX is up.
GBPAUD – continuation of the channel
