Technical analysis GBPCHF for 04.07.2022

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 descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 1.15800. The closest resistance is the level 1.16325

Key levels

• 1.17800, 1.17050, 1.16325, 1.15800, 1.14900

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 1.15800, with Take Profit of 1.14900 and Stop Loss of 1.16325

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.16325, with Take Profit of 1.17050 and Stop Loss of 1.15800