Technical analysis EURGBP for 14.10.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. 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 resistance is the level 0.87170. The closest support is the level 0.85870

Key levels

• 0.88580, 0.88060, 0.87170, 0.85870, 0.85190, 0.84520

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.87170, with Take Profit of 0.88060 and Stop Loss of 0.86500

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.85870, with Take Profit of 0.85190 and Stop Loss of 0.86500