Technical analysis GBPCAD for 11.10.2022

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 ascending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest resistance is the level 1.53360. The closest support is the level 1.52110

Key levels

• 1.54910, 1.54200, 1.53360, 1.52110, 1.51400, 1.50430

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.53360, with Take Profit of 1.54200 and Stop Loss of 1.52750

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.52110, with Take Profit of 1.51400 and Stop Loss of 1.52750