GBP/USD Trading Analysis (10/06/2024)

The overall trend is ascending. The downward truncated wave structure finished with the breach of the sloping channel. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold state.

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 1.2709.
• Target price levels at 1.2767 and 1.2808.

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