The overall trend is downward. The currency pair is trading in the range of the upper limit of the descending price channel. The Long-Legged Doji reversal pattern has formed.
The pair is trading in the range of 365 and 135 moving averages on the H1 timeframe. Awesome Oscillator shows a bearish divergence. Breaking through 11.1650 will result in the formation of a descending wave pattern of the M30 level within the wave C an H4 level descending pattern.
GBPSEK rate online: monitor the price movement in real time.
Trading idea:
Sell on the breakout of 11.1650.
Stop Loss: 11.2625.
Target level: 11.0268.