Technical analysis GBPUSD for 19.07.2022

The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud turned over from descending to ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 1.20180. The closest support is the level 1.19490

Key levels

• 1.21770, 1.20890, 1.20180, 1.19490, 1.18810, 1.18250

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.20180, with Take Profit of 1.20890 and Stop Loss of 1.19850

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.19490, with Take Profit of 1.18810 and Stop Loss of 1.19850