Currency pair analysis for today, October 11th: GBPUSD
The overall trend is downward. The currency pair trades in the range between 365 and 135 moving averages. The ascending wave patterns H4 and H1 are truncated. The Awesome Oscillator shows a bearish divergence, while the Stochastic Oscillator signals overbought conditions.
GBPUSD rate online: monitor the price movement in real time.
Trading idea:
Sell when a descending wave pattern is formed, where the wave (A) breaks through the inclined channel of the ascending truncated pattern of the level H4.
Stop Loss: below the local maximum of the truncated pattern (1.3658).
Target levels: 1.3544; 1.3413.
