Technical analysis GBPUSD for 09.05.2022
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
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 resistance is the level 1.23660. The closest support is the level 1.22200
Key levels
- 1.25120, 1.24270, 1.23660, 1.22200, 1.21650, 1.20850
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 1.23660, with Take Profit of 1.24270 and Stop Loss of 1.22800
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.22200, with Take Profit of 1.21650 and Stop Loss of 1.22800
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.