Technical analysis GBPUSD for 03.10.2023
Intraday
Technical
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. 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 1.22580. The closest resistance is the level 1.19120
Key levels
- 1.27570, 1.25090, 1.22580, 1.19120, 1.16870
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 1.22580, with Take Profit of 1.25090 and Stop Loss of 1.20880
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.19120, with Take Profit of 1.16870 and Stop Loss of 1.20880
Scenario
Recommendation
BUY STOP
Entry Point
1.22580
Take Profit
1.25090
Stop Loss
1.20880
Key Levels
1.27570, 1.25090, 1.22580, 1.19120, 1.16870
Alternative scenario
Recommendation
SELL STOP
Entry Point
1.19120
Take Profit
1.16870
Stop Loss
1.20880
Author
Nikolai Krishtopov
Market Analyst & Marketing Manager, Investizo
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.