Technical analysis GBPCAD for 17.08.2022
Intraday
Technical
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart
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 traded between Tenkan-se and Kijun-sen lines. The closest resistance is the level 1.55980. The closest support is the level 1.55180
Key levels
- 1.56790, 1.56410, 1.55980, 1.55180, 1.54750, 1.54310
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 1.55980, with Take Profit of 1.56410 and Stop Loss of 1.55550
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.55180, with Take Profit of 1.54750 and Stop Loss of 1.55550
Scenario
Recommendation
BUY STOP
Entry Point
1.55980
Take Profit
1.56410
Stop Loss
1.55550
Key Levels
1.56790, 1.56410, 1.55980, 1.55180, 1.54750, 1.54310
Alternative scenario
Recommendation
SELL STOP
Entry Point
1.55180
Take Profit
1.54750
Stop Loss
1.55550
Author
Nikolai Krishtopov
Market Analyst & Marketing Manager, Investizo
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.