EUR/GBP: Ichimoku Indicators Analysis 28 Jan 2021

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By Admin

28 January 2021

First Let’s look at the four-hour 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 (0.8679). The closest resistance level is the upper border of the cloud (0.8897).

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. One of the previous minimums of Chikou Span line is expected to be a support level (0.8650). The closest resistance level is Kijun-sen line (0.8885).

On the both charts the instrument is still falling. It is recommended to open short positions at current price with the target at the level of previous minimum of Chikou Span line (0.8679) and Stop Loss at the lower border of the cloud (0.8897).

Euro to British Pound

Buy-Sell Spread: 0.88466 – 0.8842541

Scenario

Timeframe Day’s Range

Recommendations: SELL

Entry Point: 0.8846

Take Profit: 0.8679

Stop Loss: 0.8897

Support levels: 0.8650, 0.8679, 0.8897, 0.8885