Technical analysis GBPCHF for 16.12.2021

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.2230. The closest resistance is the level 1.2290

Key levels

• 1.2550, 1.2455, 1.2395, 1.2345, 1.2290, 1.2230, 1.2140, 1.2050

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 1.2230, with Take Profit of 1.2290 and Stop Loss of 1.2215

Alternative scenario

• Recommended opening short positions (Sell Limit) from the level of 1.2345, with Take Profit of 1.2290 and Stop Loss of 1.2395