EUR/GBP: Ichimoku Indicators Analysis Report 26 Feb 2021
Let’s look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is above the price chart, current cloud is descending. The instrument is trading around lower border of the cloud. The closest support level is Kijun-sen line (0.8537). The closest resistance level is the upper border of the cloud (0.8733).
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 between Tenkan-sen and Kijun-sen lines. The closest support level is Tenkan-sen line (0.8638). The closest resistance level is Kijun-sen line (0.8728).
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 (0.8537) and Stop Loss at the lower border of the cloud (0.8733).
Entry Point: 0.8679
Take Profit: 0.8537
Stop Loss: 0.8733
Key Levels: 0.8537, 0.8638, 0.8728, 0.8733