GBP/USD Trading Analysis (22/01/2024)

The trend is descending. The currency pair is traded in the range between 365 and 135 ЕМА. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold state. The uprise wave structure is truncated.



Trading idea:

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

Stop-Loss over the local maximum of the ascending structure.

Target levels at 1.2650 and 1.2610.

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