GBP/USD analysis, trading idea, and chart
An entry point "on a pullback B" is formed. The Awesome Oscillator indicator shows bearish divergence, and the Stochastic Oscillator indicator signals overbought. The USD index has tested the support level of 109.95.
Trading idea:
Sell on the formation of a descending wave structure, where wave (A) breaks the inclined channel of an ascending structure.
Stop Loss: 1.1565.
Target levels: 1.1300; 1.1155.