GBP/AUD: A Shorting Opportunity |


remains bearish at the time of this post. The pair is in a downwards trend, trading at 1.8489 at the time of writing.

Trading Strategy

We are looking for an initial move to the average true range (ATR) target at 1.8407.

And, if we break through it, a move down to the 0.214 Fibonacci levels around the 1.8350 area is likely.

Watch the pair for any change in direction. The ATR is 112 pips per day, and its 180-day average is 115 pips.

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See also  Long Position

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