GBP/NZD – Can the fall continue

Note: Unemployment claims was neutral

Bearish:  We are currently @ 2.0566 in a channel in a fractal 3rd wave  IF we can break the 0.500 Fibo  support here, we are looking for a continuation to the ATR target @2.0419 with the overall target today the 1.270 Fibo  @ 2.0396.  Watch the USDX for direction. The average daily true range (ATR) for the pair is 166 pips per day and it’s 180 day average is 181 pips per day. USDX is currently moving up down.