Technical analysis EURGBP for 01.09.2022

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 above the Tenkan-se and Kijun-sen lines. The closest support is the level 0.8640. The closest resistance is the level 0.8670

Key levels

• 0.8720, 0.8670, 0.8640, 0.8615, 0.8590, 0.8560, 0.8605

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 0.8640, with Take Profit of 0.8590 and Stop Loss of 0.8670

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.8670, with Take Profit of 0.8720 and Stop Loss of 0.8640