Technical analysis EURGBP for 23.03.2023

The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ready to roll over from descending to ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 0.88400. The closest resistance is the level 0.88550

Key levels

• 0.88875, 0.88700, 0.88550, 0.88400, 0.88250

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.88550, with Take Profit of 0.88700 and Stop Loss of 0.88400

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.88400, with Take Profit of 0.88250 and Stop Loss of 0.88550