Technical analysis GBPCHF for 08.04.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 1.22520. The closest support is the level 1.21860

Key levels

• 1.23760, 1.23230, 1.22520, 1.21860, 1.21020, 1.20200

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.22520, with Take Profit of 1.23230 and Stop Loss of 1.22250

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.21860, with Take Profit of 1.21020 and Stop Loss of 1.22520