Technical analysis EURGBP for 07.01.2022

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 support is the level 0.83360. The closest resistance is the level 0.83725

Key levels

• 0.85775, 0.85475, 0.85150, 0.84750, 0.84450, 0.84150, 0.83725, 0.83360, 0.83100

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 0.83360, with Take Profit of 0.83100 and Stop Loss of 0.83500

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.83725, with Take Profit of 0.84150 and Stop Loss of 0.83360