20.04.2020
The overall trend is upward. The 1.2410 support level is holding back sellers. The descending (blue) pattern ended with the breakout of an inclined channel. Bullish divergence has formed on Awesome Oscillator indicator, and Stochastic Oscillator indicator showed an exit from the oversold zone. Breaking through the resistance level 1.2522 will result in the formation of an ascending wave pattern within the ascending wave (C) of the H12 level.
Trading recommendations:
Buy on the breakout of the resistance level 1.2520 (while an ascending pattern is forming).
Stop loss: 1.2410.
Target levels: 1.2643; 1.2750.
The GBPUSD rate online: monitor the movement of the pair in real-time.
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