Technical Analytics Report

EUR/GBP: Ichimoku indicators analysis 07/01/2021

On the daily chart Tenkan-sen line is below Kijun-sen, the red line is directed downwards, while the blue one remains horizontal. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading between Tenkan-sen and Kijun-sen lines. The closest support level is the upper border of the cloud (0.9001). One of the previous maximums of Chikou Span line is expected to be a resistance level (0.9152).

On the four-hour chart the instrument is trading within the cloud. On the daily chart the Bullish trend is still strong. It is not recommended to open positions at current price. Pending orders should be placed at the cloud’s borders: sell at the level of 0.9024, with Take Profit at 0.8950 and Stop Loss at 0.9080; buy at the level of 0.9080, with Take Profit at 0.9355 and Stop Loss at 0.8950.

Euro to British Pound

Buy Sell Spread

0.90681 0.90643 38

Scenario

Timeframe Day’s Range

✅Recommendations SELL STOP

Entry Point 0.9024

Take Profit 0.8950

Stop Loss 0.9080

Support levels 0.9001, 0.9024, 0.9080, 0.9152

Alternative scenario

✅Recommendations BUY STOP

Entry Point 0.9080

Take Profit 0.9355

Stop Loss 0.8950

Support levels 0.9001, 0.9024, 0.9080, 0.9152

 

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