Technical analysis GBPUSD for 02.11.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 1.15470. The closest support is the level 1.13900

Key levels

• 1.17000, 1.16240, 1.15470, 1.13900, 1.12970, 1.11930

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.15470, with Take Profit of 1.16240 and Stop Loss of 1.14750

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.13900, with Take Profit of 1.12970 and Stop Loss of 1.14750