Technical analysis EURGBP for 18.10.2022

The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 0.8650. The closest resistance is the level 0.8695

Key levels

• 0.8790, 0.8695, 0.8650, 0.8605, 0.8565, 0.8510

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.8695, with Take Profit of 0.8790 and Stop Loss of 0.8650

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.8650, with Take Profit of 0.8565 and Stop Loss of 0.8695