Technical analysis GBPUSD for 10.07.2023

Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span is above 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 1.29470. The closest support is the level 1.27280

Key levels

• 1.30730, 1.29470, 1.27280, 1.26000, 1.24690

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.29470, with Take Profit of 1.30730 and Stop Loss of 1.28380

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.27280, with Take Profit of 1.26000 and Stop Loss of 1.28380