Technical analysis GBPCAD for 28.03.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 1.65108. The closest support is the level 1.63905

Key levels

• 1.67164, 1.66300, 1.65108, 1.63905, 1.63080, 1.61949

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 1.63905, with Take Profit of 1.63080 and Stop Loss of 1.64500

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.65108, with Take Profit of 1.66300 and Stop Loss of 1.64805