Technical analysis EURGBP for 16.02.2022

The Tenkan-sen line is located below the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud turned over from ascending to descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 0.83675. The closest resistance is the level 0.84025

Key levels

• 0.85100, 0.84875, 0.84600, 0.84300, 0.84025, 0.83675, 0.83375, 0.83100

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 0.83675, with Take Profit of 0.83375 and Stop Loss of 0.83900

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.84300, with Take Profit of 0.84600 and Stop Loss of 0.84025