Technical analysis GBPAUD for 20.05.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crosses from top to bottom 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