Technical analysis GBPAUD for 31.08.2022

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 above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.69425. The closest resistance is the level 1.70265

Key levels

• 1.71200, 1.70265, 1.69425, 1.68500, 1.67050

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 1.69425, with Take Profit of 1.68500 and Stop Loss of 1.70265

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.70265, with Take Profit of 1.71200 and Stop Loss of 1.69425