Technical analysis EURGBP for 25.10.2022

The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is 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 0.87250. The closest resistance is the level 0.87950

Key levels

• 0.88700, 0.87950, 0.87250, 0.86700, 0.86125

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 0.87250, with Take Profit of 0.87950 and Stop Loss of 0.86700

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.86700, with Take Profit of 0.86125 and Stop Loss of 0.87250