Technical analysis GBPUSD for 05.02.2024
Intraday
Technical
Tenkan-sen and Kijun-sen lines are merged. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart
Tenkan-sen and Kijun-sen lines are merged. 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 1.25410. The closest support is the level 1.24950
Key levels
- 1.26250, 1.25810, 1.25410, 1.24950, 1.24600, 1.24220
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 1.25410, with Take Profit of 1.25810 and Stop Loss of 1.25200
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.24950, with Take Profit of 1.24600 and Stop Loss of 1.25200
Scenario
Recommendation
BUY STOP
Entry Point
1.25410
Take Profit
1.25810
Stop Loss
1.25200
Key Levels
1.26250, 1.25810, 1.25410, 1.24950, 1.24600, 1.24220
Alternative scenario
Recommendation
SELL STOP
Entry Point
1.24950
Take Profit
1.24600
Stop Loss
1.25200
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.