The GBP/USD pair failed to breach the 1.3180 resistance after testing it several times previously, and it remains within a sideways path between the resistance 1.3180 and the support 1.3080.
The current price movement is between the moving averages 20-7 from above and the moving average 50 from below, which …
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The general trend is descendant. The ascendant five-wave structure is truncated. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions.
Trade idea:
Sell when the descendant wave structure forms, where the wave (A) breaches the inclined channel of the ascendant truncated structure.
Stop-loss is beyond the local …
The ascendant wave structure is truncated. The inner structure is truncated, too. Forming of the reverse wave pattern is likely. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions.
Sell when the descendant wave structure forms, where the wave (A) breaches through the inclined channel …
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