Technical analysis EURGBP for 04.05.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 0.84500. The closest support is the level 0.84210

Key levels

• 0.84800, 0.84500, 0.84210, 0.83980, 0.83700, 0.84430

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.84500, with Take Profit of 0.84800 and Stop Loss of 0.84335

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.84210, with Take Profit of 0.83980 and Stop Loss of 0.84335