Technical analysis GBPUSD for 06.12.2021

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 trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1.3180. The closest resistance is the level 1.3255

Key levels

• 1.3715, 1.3604, 1.3510, 1.3430, 1.3342, 1.3305, 1.3255, 1.3180, 1.3130, 1.3065

Trading scenario

• Recommended opening short positions (Sell) at the current price, with Take Profit of 1.3180 and Stop Loss of 1.3275

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.3305, with Take Profit of 1.3380 and Stop Loss of 1.3275