GBP/NZD analysis, chart, and trading idea

The general trend is ascending. The descending truncated wave structure ended with the breach of the inclined channel. The currency pair is trading in the 365 and 135 EMA range. The Awesome Oscillator indicator shows a bullish divergence, and the Stochastic Oscillator moving indicators have exited the oversold zone.

Trading idea:

Buy on the formation of an ascending wave structure.

Stop Loss: 1.9606.

Target levels: 2.0050; 2.0280.