Technical analysis GBPUSD for 11.10.2024

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 above the Tenkan-se and Kijun-sen lines

Key levels

• 1.29547, 1.30311, 1.30928, 1.31310, 1.31817

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 1.30311, with Take Profit of 1.31310 and Stop Loss of 1.29547

Alternative scenario

• Recommended opening short positions (Sell Limit) from the level of 1.30928, with Take Profit of 1.29547 and Stop Loss of 1.31310