Technical analysis EURGBP for 26.10.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crosses from top to bottom the price chart. In this case, the cloud is descending. Instrument consolidates at the bottom of the cloud. The closest support is the level 0.8695. The closest resistance is the level 0.8790

Key levels

• 0.8790, 0.8695, 0.8650, 0.8605, 0.8565

Trading scenario

• Recommended opening long positions (Buy) at the current price, 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