Technical analysis GBPUSD for 18.10.2022

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 1.1340. The closest resistance is the level 1.1435

Key levels

• 1.1730, 1.1545, 1.1435, 1.1340, 1.1250, 1.1135, 1.0950

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 1.1340, with Take Profit of 1.1250 and Stop Loss of 1.1435

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.1435, with Take Profit of 1.1545 and Stop Loss of 1.1340