Technical analysis GBPAUD for 19.01.2023

The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. Confirmatory line Chikou Span is above the price chart. In this case, the cloud turned over from descending to ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 1.78620. The closest support is the level 1.77850

Key levels

• 1.79530, 1.79100, 1.78620, 1.77850, 1.77410, 1.77000

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.78620, with Take Profit of 1.79100 and Stop Loss of 1.78200

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.77850, with Take Profit of 1.77410 and Stop Loss of 1.78200