Technical analysis GBPUSD for 13.10.2023

The Tenkan-sen line is located above the Kijun-sen line. Blue is directed upwards, while red remains 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 1.23170. The closest support is the level 1.20880

Key levels

• 1.27250, 1.25260, 1.23170, 1.20880, 1.18240

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.23170, with Take Profit of 1.25260 and Stop Loss of 1.22000

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.20880, with Take Profit of 1.18240 and Stop Loss of 1.22000