Technical analysis EURGBP for 08.06.2022

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 ready to roll over from ascending to descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 0.84800. The closest resistance is the level 0.85030

Key levels

• 0.85550, 0.85280, 0.85030, 0.84800, 0.84530, 0.84225

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 0.85030, with Take Profit of 0.84800 and Stop Loss of 0.85250

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.85280, with Take Profit of 0.85550 and Stop Loss of 0.85030