Technical analysis GBPAUD for 20.07.2022

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 1.73700. The closest resistance is the level 1.74375

Key levels

• 1.75880, 1.75160, 1.74375, 1.73700, 1.72850

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 1.73700, with Take Profit of 1.72850 and Stop Loss of 1.74375

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.74375, with Take Profit of 1.75160 and Stop Loss of 1.73700