GBP/USD Analysis, Chart, and Trading Idea

Analytics for GBP/USD Forex pair, based on complex analysis of modified waves, Fibonacci levels and price channels
 

The trend is descending. The currency pair is traded in the range between 365 and 135 ЕМА. The uptrend wave structure is truncated. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the overbought state.
 

Trading idea:

Buy at the formation of the downtrend wave structure, when the (А) wave breaches the sloping channel of the uptrend truncated structure;

Stop-loss: 1.2050;

Target price levels: 1.1980, 1.1927.