GBP/AUD Bearish: Currently we are at 1.8186 after completing a corrective fourth wave. We are looking for a continuation initially to the 2.618 Fibonacci at 1.2076 and then a move to the Day bottom at 0.7938. The average daily true range (ATR) for the pair currently is 106 pips but its 180-day ATR is 151 pips a day.
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