Technical analysis EURGBP for 17.05.2023
Intraday
Technical
Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed above the price chart
Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed above the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 0.86900. The closest resistance is the level 0.87025
Key levels
- 0.87325, 0.87175, 0.87025, 0.86900, 0.86750
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 0.86900, with Take Profit of 0.86750 and Stop Loss of 0.87025
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 0.87025, with Take Profit of 0.87175 and Stop Loss of 0.86900
Scenario
Recommendation
SELL STOP
Entry Point
0.86900
Take Profit
0.86750
Stop Loss
0.87025
Key Levels
0.87325, 0.87175, 0.87025, 0.86900, 0.86750
Alternative scenario
Recommendation
BUY STOP
Entry Point
0.87025
Take Profit
0.87175
Stop Loss
0.86900
Author
Nikolai Krishtopov
Market Analyst & Marketing Manager, Investizo
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.