Technical analysis GBPUSD for 19.07.2023

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 ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 1.30380. The closest support is the level 1.27510

Key levels

• 1.31720, 1.30380, 1.27510, 1.25960, 1.24390

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.30380, with Take Profit of 1.31720 and Stop Loss of 1.28960

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.27510, with Take Profit of 1.25960 and Stop Loss of 1.28960