Technical analysis EURGBP for 24.05.2022

Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span is 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 0.8449. The closest resistance is the level 0.8486

Key levels

• 0.8615, 0.8565, 0.8528, 0.8486, 0.8449, 0.8407, 0.8370

Trading scenario

• Recommended opening short positions (Sell) at the current price, with Take Profit of 0.8407 and Stop Loss of 0.8528

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.8528, with Take Profit of 0.8615 and Stop Loss of 0.8486