Technical analysis GBPUSD for 06.07.2022

The Tenkan-sen line is located below the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 1.19630. The closest support is the level 1.18810

Key levels

• 1.20890, 1.20180, 1.19630, 1.18810, 1.18250, 1.17550

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.19630, with Take Profit of 1.20180 and Stop Loss of 1.19250

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.18810, with Take Profit of 1.18250 and Stop Loss of 1.19250