Technical analysis GBPUSD for 04.11.2024

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crosses from top to bottom 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 1.293. The closest resistance is the level 1.297

Key levels

1.2911, 1.293, 1.297, 1.299, 1.302

Trading scenario

Recommended opening long positions (Buy Limit) from the level of 1.293, with Take Profit of 1.302 and Stop Loss of 1.2911

Alternative scenario

Recommended opening short positions (Sell Limit) from the level of 1.299, with Take Profit of 1.2911 and Stop Loss of 1.302