Technical analysis GBPUSD for 20.06.2023

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 1.28080. The closest support is the level 1.26600

Key levels

• 1.28970, 1.28080, 1.26600, 1.25530, 1.24550

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.28080, with Take Profit of 1.28970 and Stop Loss of 1.27380

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.26600, with Take Profit of 1.25530 and Stop Loss of 1.27380