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GBP/NOK currency pair analysis

30.08.2022

Market Review

The downward truncated wave structure ended with the breakdown of the inclined channel. On the indicator Awesome Oscillator, there is a bullish divergence. On the H4 timeframe, there is a "key reversal" pattern with a false breakout.

Trade idea:

Buy on the breakout of 11.4780.

Stop-loss under the support level 11.3650.

Target levels: 11.580; 11.735.

Author: GC
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