GBP/AUD Trading Analysis (03/04/2024)

Bears are testing the lower border of the flat zone on the H4 timeframe. The downward wave structure is truncated. There is bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold state.

Trading idea:

Buy when the formation of the ascending wave structure begins, when the wave A breaches the sloping channel of the downward truncated structure.

Stop-Loss at 1.9273.

Target price levels at 1.9360 and 1.9440.

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