Technical analysis GBPCAD for 28.03.2022
The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. 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 1.65108. The closest support is the level 1.63905
Key levels
- 1.67164, 1.66300, 1.65108, 1.63905, 1.63080, 1.61949
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 1.63905, with Take Profit of 1.63080 and Stop Loss of 1.64500
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1.65108, with Take Profit of 1.66300 and Stop Loss of 1.64805
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.