Technical analysis GBPUSD for 07.06.2022
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 1.24870. The closest support is the top of the cloud
Key levels
- 1.25900, 1.25300, 1.24870, 1.24300, 1.23700, 1.23200
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 1.24870, with Take Profit of 1.25300 and Stop Loss of 1.24600
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.24300, with Take Profit of 1.23700 and Stop Loss of 1.24600
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.