Technical analysis GBPUSD for 05.10.2022

The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.1405. The closest resistance is the level 1.1470

Key levels

• 1.1730, 1.1605, 1.1530, 1.1470, 1.1405, 1.1325, 1.1210

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 1.1405, with Take Profit of 1.1325 and Stop Loss of 1.1470

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.1470, with Take Profit of 1.1605 and Stop Loss of 1.1405