Technical analysis EURGBP for 07.07.2022

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 descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 0.85125. The closest resistance is the level 0.85400

Key levels

• 0.85925, 0.85650, 0.85400, 0.85125, 0.84850

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 0.85400, with Take Profit of 0.85125 and Stop Loss of 0.85650

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.85650, with Take Profit of 0.85925 and Stop Loss of 0.85400