Technical analysis EURGBP for 01.06.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crosses bottom upward the price chart. In this case, the cloud turned over from ascending to descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 0.8503. The closest resistance is the level 0.8528

Key levels

• 0.8617, 0.8575, 0.8550, 0.8528, 0.8503, 0.8480, 0.8440

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.8528, with Take Profit of 0.8575 and Stop Loss of 0.8503

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.8503, with Take Profit of 0.8440 and Stop Loss of 0.8528