Technical analysis GBPAUD for 03.05.2022

The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ready to roll over from descending to ascending. Instrument adjusted to the upper border of the cloud. The closest support is the level 1.7669. The closest resistance is the level 1.7779

Key levels

• 1.7880, 1.7779, 1.7669, 1.7594, 1.7504, 1.7445, 1.7375

Trading scenario

• Recommended opening long positions (Buy) at the current price, with Take Profit of 1.7779 and Stop Loss of 1.7669

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.7669, with Take Profit of 1.7504 and Stop Loss of 1.7779