The GBP/USD pair traded with strong negativity yesterday, to achieve our first extended target of 1.3460 and try to break it, affected by the previously completed double top pattern, waiting for more decline to visit 1.3400 as a next corrective station.
Therefore, we expect the bearish bias to continue in …
The descendant truncated wave structure of the H4 level has finished with breaching the inclined channel. Awesome Oscillator indicates bullish divergence. The entry point is forming on the correction wave B.
Trade idea:
Buy when breaching 1.1335.
Stop loss below the support level 1.1288.
Target levels: 1.1420; 1.1480.
#DTE
The general trend is ascendant. History mirror level 15.42 has restrained sellers. The descendant truncated wave structure has finished with breaching the inclined channel. Awesome Oscillator indicates bullish divergence.
Trade idea:
Buy when breaching 16.33 level.
Stop loss is below the mirror level of 15.42.
Target levels: 17.18; 17.72.
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