Technical analysis GBPUSD for 21.07.2023

The Tenkan-sen line is located below 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 is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 1.29410. The closest support is the level 1.27760

Key levels

• 1.30900, 1.30000, 1.29410, 1.27760, 1.26960, 1.26230

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.29410, with Take Profit of 1.30000 and Stop Loss of 1.28500

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.27760, with Take Profit of 1.26960 and Stop Loss of 1.28500