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EUR/GBP: ICHIMOKU INDICATORS ANALYSIS

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EUR/GBP: ICHIMOKU INDICATORS ANALYSIS
Scenario
TimeframeIntraday
RecommendationBUY
Entry Point0.86699
Take Profit0.86860
Stop Loss0.86585
Key Levels0.86270, 0.86585, 0.86860, 0.87070
EUR/GBP: ICHIMOKU INDICATORS ANALYSIS

Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the red line is directed upwards, while the blue one remains horizontal. Confirmative line Chikou Span is crossing the price chart from below, current cloud is ascending. The instrument is trading around upper border of the cloud. The closest support level is Tenkan-sen line (0.86585). One of the previous maximums of Chikou Span line is expected to be a resistance level (0.86860).


EUR/GBP: ICHIMOKU INDICATORS ANALYSIS

On the daily chart Tenkan-sen line is above Kijun-sen, the red line is directed upwards, while the blue one remains horizontal. Confirmative line Chikou Span is above the price chart, current cloud is descending. The instrument has been corrected to the Tenkan-sen line. The closest support level is Kijun-sen line (0.86270). One of the previous maximums of Chikou Span line is expected to be a resistance level (0.87070).


It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (0.86860) line and Stop Loss at the level of Kijun-sen line (0.86585).

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