10.04.2020
Analysis based on round-number levels, price channels and modified Elliott Waves
The 1.2480 resistance level is holding back the bulls. An ascending truncated H4 level pattern has formed. A bearish divergence has formed on Awesome Oscillator, and Stochastic Oscillator signals overboughtness.
The GBPUSD rate online: monitor the movement of the pair in real time.
Trading recommendations:
Sell strictly as an ascending truncated pattern is forming on the H4 level by breaking through the inclined channel. Entry at the formation of a descending pattern.
Stop loss beyond the local maximum (1.2480).
Target levels: 1.2200 (close a part of the transaction and move to breakeven); 1.1976; 1.1711; 1.1445.
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