GBP/NZD – Third Wave continues
Bullish: We are currently @ 1.9809 in a third wave. We are looking for a continuation to the ATR Target @ 1.9900 with a further target at the R6/2.618 Fibo @ 2.0019 (third wave can’t be the shortest). We have convergence in play for the move. Watch the USDX for direction. The average daily true range (ATR) for the pair is 174 pips and it’s 180 day average is 183 pips per day. USDX is currently moving sideways.