Technical analysis GBPUSD for 16.02.2024

The Tenkan-sen line is located below the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument corrected to the Tenkan-se line. The closest resistance is the level 1.25990. The closest support is the level 1.25380

Key levels

1.26800, 1.26400, 1.25990, 1.25380, 1.25000, 1.24650

Trading scenario

Recommended opening long positions (Buy Stop) from the level of 1.25990, with Take Profit of 1.26400 and Stop Loss of 1.25700

Alternative scenario

Recommended opening short positions (Sell Stop) from the level of 1.25380, with Take Profit of 1.25000 and Stop Loss of 1.25700