GBP/USD Trading Analysis (10/06/2024)
The overall trend is ascending. The downward truncated wave structure finished with the breach of the sloping channel. There is a 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 descending truncated structure.
- Stop-Loss at 1.2709.
- Target price levels at 1.2767 and 1.2808.
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