Technical analysis GBPAUD for 17.05.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 1.77430. The closest support is the level 1.75940

Key levels

• 1.79190, 1.78170, 1.77430, 1.75940, 1.75390, 1.74450

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.77430, with Take Profit of 1.78170 and Stop Loss of 1.76650

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.75940, with Take Profit of 1.75390 and Stop Loss of 1.76650