Technical Analytics Report

GBP/TRY: Ichimoku Indicators Analysis 28 April 2021

GBP/TRY: Ichimoku Indicators Analysis 28 April 2021

 

GBP/TRY: H4

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 above the price chart, current cloud is ascending. The instrument is trading around upper border of the cloud. The closest support level is the upper border of the cloud (11.2665). One of the previous maximums of Chikou Span line is expected to be a resistance level (11.9972).

 GBP/TRY: D1

 On the daily chart Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is Kijun-sen line (11.1852). One of the previous maximums of Chikou Span line is expected to be a resistance level (12.0949).

 It is recommended to open long positions at current price with the target at the level of previous maximum of Chikou Span line (11.9972) and Stop Loss at the upper border of the cloud (11.2665).

 Scenario

 Timeframe: Intraday

Recommendation: Buy

Entry Point: 11.4079

Take Profit: 11.9972

Stop Loss: 11.2665

Key Levels: 11.1852, 11.2665, 11.9972, 12.0949


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