Technical analysis GBPUSD for 25.09.2023

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. 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 1.23790. The closest support is the level 1.21500

Key levels

• 1.27830, 1.25780, 1.23790, 1.21500, 1.19760

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.23790, with Take Profit of 1.25780 and Stop Loss of 1.22130

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.21500, with Take Profit of 1.19760 and Stop Loss of 1.22130