Technical analysis GBPUSD for 07.04.2022

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 1.30485. The closest resistance is the level 1.31190

Key levels

• 1.33485, 1.32700, 1.31875, 1.31190, 1.30485, 1.29550, 1.28725

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 1.30485, with Take Profit of 1.29550 and Stop Loss of 1.31190

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.31190, with Take Profit of 1.31875 and Stop Loss of 1.30485