Technical analysis EURGBP for 11.11.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 0.87225. The closest resistance is the level 0.87500

Key levels

• 0.87800, 0.87500, 0.87225, 0.86950, 0.86700

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 0.87225, with Take Profit of 0.87500 and Stop Loss of 0.86950

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.86950, with Take Profit of 0.86700 and Stop Loss of 0.87050