GBP/AUD chart, trading idea and technical analysis

The currency pair is in the range of 365 and 135 EMAs directed downward. The ascending wave structure is truncated. Awesome Oscillator indicator shows bearish divergence, and Stochastic Oscillator signals overbought.

Trading idea:

Sell on the formation of a downward wave structure, where wave (A) breaks the inclined channel of the upward truncated structure.

Stop Loss for the local maximum of the ascending structure (1.6783).

Target levels: 1.6467; 1.6000.

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