Technical analysis GBPUSD for 23.01.2024

The Tenkan-sen line is located above the Kijun-sen line. Red points downwards while blue points upwards. Confirmatory line Chikou Span crosses from top to bottom the price chart. In this case, the cloud turned over from descending to ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 1.26890. The closest support is the level 1.26250

Key levels

• 1.27750, 1.27370, 1.26890, 1.26250, 1.25810, 1.25410

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.26890, with Take Profit of 1.27370 and Stop Loss of 1.26580

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.26250, with Take Profit of 1.25810 and Stop Loss of 1.26580