Technical analysis EURGBP for 11.10.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest resistance is the level 0.88060. The closest support is the level 0.87170

Key levels

• 0.89080, 0.88580, 0.88060, 0.87170, 0.86520, 0.85870

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.88060, with Take Profit of 0.88580 and Stop Loss of 0.87500

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.87170, with Take Profit of 0.86520 and Stop Loss of 0.87500