Technical analysis GBPAUD for 04.11.2022

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 descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 1.78260. The closest support is the level 1.77030

Key levels

• 1.79920, 1.79090, 1.78260, 1.77030, 1.76340, 1.75680

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.78260, with Take Profit of 1.79090 and Stop Loss of 1.77650

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.77030, with Take Profit of 1.76340 and Stop Loss of 1.77650