Technical analysis GBPUSD for 11.08.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud turned over from descending to ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.2140. The closest resistance is the level 1.2190

Key levels

• 1.2275, 1.2190, 1.2140, 1.2095, 1.2055, 1.2000, 1.1920

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 1.2140, with Take Profit of 1.2055 and Stop Loss of 1.2190

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.2190, with Take Profit of 1.2275 and Stop Loss of 1.2140