GBP/AUD: Ichimoku indicators analysis

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GBP/AUD: Ichimoku indicators analysis
Scenario
TimeframeIntraday
RecommendationBUY
Entry Point1.9600
Take Profit1.9829
Stop Loss1.9479
Key Levels1.9518, 1.9647, 1.9478, 1.9709
GBP/AUD: Ichimoku indicators analysis

Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, both lines are directed upwards. Confirmative line Chikou Span is above the price chart, current cloud has reversed from descending to ascending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is Tenkan-sen line (1.9518). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.9647).


GBP/AUD: Ichimoku indicators analysis

On the daily chart Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span has crossed the price chart from below, current cloud is descending. The instrument has broken through Tenkan-sen and Kijun-sen lines. The closest support level is Tenkan-sen line (1.9478). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.9709).


It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (1.9829) line and Stop Loss at the level of Kijun-sen line (1.9479).


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