Technical analysis GBPUSD for 16.08.2022
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed below the price chart
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed below the price chart. In this case, the cloud turned over from ascending to descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1.2000. The closest resistance is the level 1.2055
Key levels
- 1.2275, 1.2190, 1.2140, 1.2095, 1.2055, 1.2000, 1.1920
Trading scenario
- Recommended opening short positions (Sell Limit) from the level of 1.2055, with Take Profit of 1.2000 and Stop Loss of 1.2095
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1.2095, with Take Profit of 1.2190 and Stop Loss of 1.2055
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.