Technical analysis GBPUSD for 28.09.2023

The Tenkan-sen line is located below the Kijun-sen line. Blue is directed downward, while red remains 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 1.23050. The closest support is the level 1.21240

Key levels

• 1.27220, 1.25040, 1.23050, 1.21240, 1.19130

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.23050, with Take Profit of 1.25040 and Stop Loss of 1.22100

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.21240, with Take Profit of 1.19130 and Stop Loss of 1.22100