Technical analysis GBPUSD for 25.04.2023

The Tenkan-sen line is located above the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud turned over from descending to ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 1.24530. The closest support is the level 1.23760

Key levels

• 1.25200, 1.24840, 1.24530, 1.23760, 1.23100, 1.22420

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.24530, with Take Profit of 1.24840 and Stop Loss of 1.24200

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.23760, with Take Profit of 1.23100 and Stop Loss of 1.24200