GBP/NZD – first thrust down

Oct 24, 2023

Bearish: We are currently @ 2.0876 out of the rising wedge and starting the downward move. We have convergence for the continuation. We are looking for a continuation to the ATR target@ 2.0822 with the further target for today the support @ 2.0763. 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 158 pips per day. USDX is currently moving up.