Technical analysis GBPUSD for 12.06.2023

The Tenkan-sen line is located above the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 1.25340. The closest support is the level 1.24700

Key levels

• 1.26520, 1.25900, 1.25340, 1.24700, 1.24030, 1.23360

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.25340, with Take Profit of 1.25900 and Stop Loss of 1.25030

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.24700, with Take Profit of 1.24030 and Stop Loss of 1.25030