EUR/GBP: Ichimoku Indicators Analysis 25 Jan 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 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 (0.8720). The closest resistance level is Kijun-sen line (0.8990).
Let’s look at the H4 chart. Tenkan-sen line is above Kijun-sen, both lines are directed upwards. Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading around lower border of the cloud. The closest support level is the upper border of the cloud (0.8745). The closest resistance level is the upper border of the cloud (0.8940).
Euro to British Pound
Entry Point 0.8889
Take Profit 0.8745
Stop Loss 0.8940
Support levels 0.8720, 0.8745, 0.8940, 0.8990