Technical analysis GBPUSD for 16.08.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed below the price chart. In this case, the cloud turned over from ascending to descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1.2000. The closest resistance is the level 1.2055

Key levels

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

Trading scenario

• Recommended opening short positions (Sell Limit) 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 1.2190 and Stop Loss of 1.2055