The GBP/USD pair continues to move lower after breaking the 1.2500 support level, which is close to the 61.8% Fibonacci retracement, breaching several levels of support, before the movement temporarily stabilized near the 1.2350 support.
The moving averages constitute an additional negative pressure factor on the price, being within the …
#DTE
The resistance level 17.854 restrains buyers. The ascendant wave structure is truncated. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions.
Trading idea:
Sell when the descendant wave structure forms, where the wave (A) breaches through the inclined channel of the ascendant truncated structure.
Stop-loss is over …
The general trend is ascendant. The descendant wave structures are truncated — the reverse wave model is forming. Awesome Oscillator indicates bullish divergence, and Stochastic Oscillator signals oversold conditions.
Trading idea:
Buy when the ascendant wave structure forms, where the wave (A) breaches through the inclined channel of the descendant …
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