Technical analysis GBPUSD for 12.05.2022
The Tenkan-sen line approaches below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is above the price chart
The Tenkan-sen line approaches below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is above 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 1.22360. The closest support is the level 1.21620
Key levels
- 1.23420, 1.22700, 1.22360, 1.21620, 1.21000, 1.20410
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 1.22360, with Take Profit of 1.22700 and Stop Loss of 1.21900
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.21620, with Take Profit of 1.21000 and Stop Loss of 1.21900
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.