GBP/NZD currency pair analysis

The general trend is ascendant. The descendant wave structure is truncated. The currency pair is traded between 365 and 135 moving averages. Awesome Oscillator indicates bullish divergence, and Stochastic Oscillator signals oversold conditions.

Trading idea:

Buy when the ascendant wave structure forms, where the wave (A) breaches through the inclined channel of the descendant truncated structure.

Stop-loss is under the local minimum of the descendant structure.

Target levels: 1.9370; 1.9433.