GBP/NZD trades lower at the time of this post. We are currently at 1.9182 in the 5th wave and a downtrend.
We are looking for an initial move to the average true range (ATR) target at 1.9100 and then a move towards the 2.618 Fibonacci level near the 1.8930 area.
Watch the pair for any change in direction. The ATR for the pair is 123 pips per day, and its 180-day average is 129 pips.