Technical analysis EURGBP for 16.06.2022

The Tenkan-sen line is located above 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 below the Tenkan-se and Kijun-sen lines. The closest support is the level 0.85900. The closest resistance is the level 0.86125

Key levels

• 0.86525, 0.86325, 0.86125, 0.85900, 0.85725, 0.85550

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 0.85900, with Take Profit of 0.86125 and Stop Loss of 0.85725

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.85725, with Take Profit of 0.85550 and Stop Loss of 0.85900