GBP/NOK Trading Analysis (06/06/2024)

The trend is descending. The currency pair is traded in the range between 365 and 135 ЕМА. The ascending truncated wave structure finished with the breach of the sloping channel. There is a bearish divergence on the Awesome Oscillator, and the moving averages of the Stochastic Oscillator are out of the overbought zone.

Trading idea:

Buy at the breach of 13.4960.

Stop-Loss at 13.5400.

Target price levels at 13.4340 and 13.3600.

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