Technical analysis GBPUSD for 04.08.2022

The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span crosses from top to bottom 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 1.2089. The closest resistance is the level 1.2177

Key levels

• 1.2280, 1.2177, 1.2089, 1.2018, 1.1949, 1.1881, 1.1881, 1.1825

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.2177, with Take Profit of 1.2280 and Stop Loss of 1.2089

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.2089, with Take Profit of 1.1949 and Stop Loss of 1.2177