Currency pair analysis GBP/NOK
The descending wave pattern is truncated. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold conditions.
Trade idea:
Buy when the ascending wave pattern is formed, where the wave (A) breaches the inclined channel of the descending truncated pattern.
Stop-loss is below the local minimum of the descending truncated pattern.
Target levels: 11.9500; 12.1640.
