GBP/USD Trading Analysis (04/09/2024)

The trend is up. The currency pair is trading in the range between 365 and 135 ЕМА. The downward wave structure is truncated. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an oversold condition.

Trading idea:

• Buy when the formation of the ascending wave structure begins, when the wave A breaches the sloping channel of the descending truncated structure.
• Stop-loss at 1.3085.
• Price targets at 1.3200 and 1.3263. 

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