Technical analysis GBPUSD for 07.09.2022

Tenkan-sen and Kijun-sen lines are merged. Both lines are directed downward. 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 1.15150. The closest support is the level 1.14270

Key levels

• 1.16110, 1.15700, 1.15150, 1.14270, 1.13630, 1.12920

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.15150, with Take Profit of 1.15700 and Stop Loss of 1.14700

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.14270, with Take Profit of 1.13630 and Stop Loss of 1.14700