Technical analysis GBPUSD for 03.07.2023

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 1.27770. The closest support is the level 1.26040

Key levels

• 1.28980, 1.27770, 1.26040, 1.24900, 1.23730

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.27770, with Take Profit of 1.28980 and Stop Loss of 1.26910

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.26040, with Take Profit of 1.24900 and Stop Loss of 1.26910