GBP/NZD – Lot of room to the bottom

Bearish: We are currently @ 2.0544 in a 3rd wave. We are looking for a continuation to the ATR Target @ 2.0454 with the overall target the 4.236 Fibo @ 2.0314. Watch the USDX for direction. The average daily true range (ATR) for the pair is 168 pips per day and it’s 90 day average is 167 pips per day. USDX is currently moving down.