Technical analysis GBPUSD for 22.08.2023

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below 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 1.28250. The closest support is the level 1.26460

Key levels

• 1.30940, 1.29660, 1.28250, 1.26460, 1.25210

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.28250, with Take Profit of 1.29660 and Stop Loss of 1.27300

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.26460, with Take Profit of 1.25210 and Stop Loss of 1.27300