Technical analysis EURGBP for 16.05.2022

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 ascending. Instrument consolidates at the bottom of the cloud. The closest support is the level 0.8492. The closest resistance is the level 0.8525

Key levels

• 0.8617, 0.8565, 0.8525, 0.8492, 0.8465, 0.8430, 0.8373

Trading scenario

• Recommended opening long positions (Buy) at the current price, with Take Profit of 0.8565 and Stop Loss of 0.8465

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.8465, with Take Profit of 0.8373 and Stop Loss of 0.8492