Technical analysis GBPUSD for 26.07.2023

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 1.30430. The closest support is the level 1.27540

Key levels

• 1.31820, 1.30430, 1.27540, 1.26090, 1.24640

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.30430, with Take Profit of 1.31820 and Stop Loss of 1.28990

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.27540, with Take Profit of 1.26090 and Stop Loss of 1.28990