GBP/CAD Trading Analysis (05/04/2024)

The trend is ascending. The currency pair is traded in the range between 365 and 135 ЕМА. The 200 ЕМА were tested on the H4 time frame. There is bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the overbought state.

Trading idea:

Sell when the formation of the descending wave structure begins, when the wave A breaches the level of 1.7107 (pivot 2 of the wave C).

Stop-Loss at 1.7140.

Target price levels at 1.7050 and 1.7024.

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