Technical analysis GBPCAD for 27.04.2022

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 support is the level 1.61025. The closest resistance is the level 1.61950

Key levels

• 1.65025, 1.64025, 1.62975, 1.61950, 1.61025, 1.59750

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 1.61025, with Take Profit of 1.59750 and Stop Loss of 1.61950

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.61950, with Take Profit of 1.62975 and Stop Loss of 1.61025