Technical analysis EURGBP for 08.07.2022

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 0.8420. The closest resistance is the level 0.8460

Key levels

• 0.8590, 0.8510, 0.8460, 0.8420, 0.8380, 0.8330

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 0.8420, with Take Profit of 0.8380 and Stop Loss of 0.8460

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.8460, with Take Profit of 0.8510 and Stop Loss of 0.8420