Technical analysis EURGBP for 05.07.2022

The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span crosses from top to bottom the price chart. In this case, the cloud turned over from ascending to descending. Instrument adjusted to the upper border of the cloud. The closest support is the level 0.8610. The closest resistance is the level 0.8640

Key levels

• 0.8715, 0.8670, 0.8640, 0.8610, 0.8560, 0.8511

Trading scenario

• Recommended opening short positions (Sell) at the current price, with Take Profit of 0.8560 and Stop Loss of 0.8640

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.8640, with Take Profit of 0.8670 and Stop Loss of 0.8610