Technical analysis GBPUSD for 02.03.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1.32850. The closest resistance is the level 1.33550

Key levels

• 1.36825, 1.36325, 1.35450, 1.34950, 1.34175, 1.33550, 1.32850, 1.31775, 1.31025

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 1.32850, with Take Profit of 1.31775 and Stop Loss of 1.33550

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.33550, with Take Profit of 1.34175 and Stop Loss of 1.32850