Technical analysis GBPUSD for 06.07.2023

The Tenkan-sen line is located above the Kijun-sen line. Blue is directed upwards, while red remains horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading below 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

• 1.28920, 1.27770, 1.26040, 1.24900, 1.23750

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.27770, with Take Profit of 1.28920 and Stop Loss of 1.26890

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.26040, with Take Profit of 1.24900 and Stop Loss of 1.26890