GBP/NZD –Falling wedge continuation

Note: core CPI was positive this AM!

Bullish: We are currently @ 1.9475 in a channel. We have convergence for the upside move. We are looking for a continuation to the ATR Target @ 11.9580 with the further target for today the 1.618 Fibo @1.9620. Watch the USDX for direction. The average daily true range (ATR) for the pair is 145 pips per day and it’s 90 day average is 165 pips per day. USDX is currently moving up to go up.

Posted to Introduction to Forex Targe… on Sep 13, 2023 — 8:09 AM

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