Technical analysis EURGBP for 08.08.2022

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 ready to roll over from descending to ascending. Instrument corrected to the Tenkan-se line. The closest support is the level 0.8400. The closest resistance is the level 0.8435

Key levels

• 0.8585, 0.8530, 0.8495, 0.8465, 0.8435, 0.8400, 0.8345

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.8435, with Take Profit of 0.8495 and Stop Loss of 0.8400

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.8400, with Take Profit of 0.8345 and Stop Loss of 0.8435