Technical analysis GBPUSD for 01.06.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1.24875. The closest resistance is the level 1.25300

Key levels

• 1.26500, 1.25900, 1.25300, 1.24875, 1.24300, 1.23700

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 1.24875, with Take Profit of 1.24300 and Stop Loss of 1.25300

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.25300, with Take Profit of 1.25900 and Stop Loss of 1.24875