Technical analysis GBPUSD for 10.07.2023
Intraday
Technical
Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart
Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span is above 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 1.29470. The closest support is the level 1.27280
Key levels
- 1.30730, 1.29470, 1.27280, 1.26000, 1.24690
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 1.29470, with Take Profit of 1.30730 and Stop Loss of 1.28380
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.27280, with Take Profit of 1.26000 and Stop Loss of 1.28380
Scenario
Recommendation
BUY STOP
Entry Point
1.29470
Take Profit
1.30730
Stop Loss
1.28380
Key Levels
1.30730, 1.29470, 1.27280, 1.26000, 1.24690
Alternative scenario
Recommendation
SELL STOP
Entry Point
1.27280
Take Profit
1.26000
Stop Loss
1.28380
Author
Nikolai Krishtopov
Market Analyst & Marketing Manager, Investizo
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.