29.03.2021
The overall trend is downward. The upward pattern of the H1 level is truncated, and the price is in the range of 365 and 135 moving averages. A bearish divergence has formed on Awesome Oscillator, and Stochastic Oscillator signals overbought conditions.
GBPCAD 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.
Stop loss under the local maximum of the ascending pattern.
Target levels: 1.7260; 1.7191.
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