Technical analysis GBPAUD for 11.07.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest resistance is the level 1.76630. The closest support is the level 1.75520

Key levels

• 1.77420, 1.76990, 1.76630, 1.75520, 1.75050, 1.74540

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.76630, with Take Profit of 1.76990 and Stop Loss of 1.76000

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.75520, with Take Profit of 1.75050 and Stop Loss of 1.76000