GBP/NZD Trading Analysis (07/09/2023)

The trend is ascending. The currency pair is traded in the range of 365 and 135 ЕМА. The downward wave structure is truncated. There is bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold state. The entry point at the pullback B with the forming truncated C.
 

Trading idea:

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

Stop-Loss under the local minimum of the downward structure.

Target price levels: 2.1410 (the trap of a professional), 2.1516 (level of 138.2%Fib).

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