Technical analysis GBPUSD for 07.03.2022
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 descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1.31000. The closest resistance is the level 1.32100
Key levels
- 1.36800, 1.36075, 1.35100, 1.34325, 1.33600, 1.32900, 1.32100, 1.31000, 1.29625
Trading scenario
- Recommended opening short positions (Sell) at the current price, with Take Profit of 1.31000 and Stop Loss of 1.32000
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1.32100, with Take Profit of 1.32900 and Stop Loss of 1.31700