Technical analysis EURGBP for 04.02.2022

The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ready to roll over from descending to ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 0.84450. The closest resistance is the level 0.84800

Key levels

• 0.85075, 0.84800, 0.84450, 0.84450, 0.84125, 0.83650, 0.83375, 0.83125

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 0.84450, with Take Profit of 0.84800 and Stop Loss of 0.84125

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.84125, with Take Profit of 0.83650 and Stop Loss of 0.84450