Technical Analytics Report

EUR/GBP: Ichimoku Indicators Analysis 05 Feb 2021

 

EUR/GBP: H4 

Let’s look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (0.8590). The closest resistance level is Kijun-sen line (0.8794).

 EUR/GBP: D1 

On the daily chart Tenkan-sen line is below Kijun-sen, both lines are directed downwards. Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. The closest support level is the upper border of the cloud (0.8577). The closest resistance level is Tenkan-sen line (0.8830). 

On the both charts the instrument is still falling. It is recommended to open short positions at current price with Take Profit at the level of previous minimum of Chikou Span line (0.8590) and Stop Loss at the level of Kijun-sen line (0.8794).

 Euro to British Pound

 Buy Sell Spread: 0.87452 – 0.87413, 39

 Scenario

 Timeframe: Day’s Range

Recommendations: SELL

Entry Point: 0.8746

Take Profit: 0.8590

Stop Loss: 0.8794

 

Support levels: 0.8577, 0.8590, 0.8794, 0.8830

 

 

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