Technical analysis GBPUSD for 08.08.2022

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 ready to roll over from ascending to descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1.2055. The closest resistance is the level 1.2095

Key levels

• 1.2275, 1.2190, 1.2140, 1.2095, 1.2055, 1.2000, 1.1920

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 1.2055, with Take Profit of 1.2000 and Stop Loss of 1.2095

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.2095, with Take Profit of 1.2140 and Stop Loss of 1.2055