GBP/NZD Trading Analysis (07/09/2023)

The trend is ascending. The currency pair is traded in the range of 365 and 135 ЕМА. The downward wave structure is truncated. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an oversold state. The entry point at the pullback B with the forming truncated C is forming.
 

Trading idea:

Buy at the formation of the ascending wave structure, when the A-wave breaches the sloping channel of the downward truncated structure.

Stop-Loss under the local minimum of the downward structure.

Target price levels: 2.1410 (the trap of a professional), 2.1516 (level of 138.2%Fib).

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