Technical analysis GBPAUD for 12.05.2022

The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest resistance is the level 1.76690. The closest support is the level 1.75940

Key levels

1.78170, 1.77430, 1.76690, 1.75940, 1.75390, 1.74450

Trading scenario

Recommended opening long positions (Buy Stop) from the level of 1.76690, with Take Profit of 1.77430 and Stop Loss of 1.76350

Alternative scenario

Recommended opening short positions (Sell Stop) from the level of 1.75940, with Take Profit of 1.75390 and Stop Loss of 1.76350