Technical analysis GBPUSD for 13.10.2022

The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.1045. The closest resistance is the level 1.1220

Key levels

• 1.1495, 1.1220, 1.1045, 1.0900, 1.0758, 1.0550, 1.0335

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 1.1045, with Take Profit of 1.0758 and Stop Loss of 1.1220

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.1220, with Take Profit of 1.1495 and Stop Loss of 1.1045