The GBP/USD pair traded negatively at the opening of the day, moving below 1.3390, to reactivate the negative scenario whose targets begin by testing the 1.3310 level, noting that breaking this level will open the way for a rally towards 1.3175 areas.
Therefore, the bearish bias will be likely for …
#ORA
The general trend is descendant. The resistance level of 11.112 restrains buyers, Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions. Breaching of 10.600 will cause the descendant wave structure to form.
Trade idea:
Sell when 10.600 is breached.
Stop-loss: 11.112.
Target levels: 10.20; 9.70.
The 16.9600 support level restrains sellers. The descendant wave structure is truncated. Awesome Oscillator indicates bullish divergence, and Stochastic Oscillator’s moving levels are upbound. The pivot 2 of wave C of the descendant truncated structure is breached.
Trade idea:
Buy when level 17.22098 is breached.
Stop-loss — …
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