Technical analysis GBPUSD for 12.04.2022

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 traded between Tenkan-se and Kijun-sen lines. The closest support is the level 1.3000. The closest resistance is the level 1.3070

Key levels

• 1.3300, 1.3230, 1.3150, 1.3070, 1.3000, 1.2880, 1.2775

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 1.3000, with Take Profit of 1.2880 and Stop Loss of 1.3070

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.3070, with Take Profit of 1.3150 and Stop Loss of 1.3000