Technical analysis EURGBP for 17.05.2023
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