Technical analysis GBPUSD for 19.05.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 1.2335. The closest resistance is the level 1.2394

Key levels

• 1.2630, 1.2520, 1.2450, 1.2394, 1.2335, 1.2270, 1.2160

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 1.2335, with Take Profit of 1.2270 and Stop Loss of 1.2394

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.2394, with Take Profit of 1.2520 and Stop Loss of 1.2335