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EUR/GBP: ICHIMOKU INDICATORS ANALYSIS

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EUR/GBP: ICHIMOKU INDICATORS ANALYSIS
Scenario
TimeframeIntraday
RecommendationSELL
Entry Point0.8547
Take Profit0.8448
Stop Loss0.8596
Key Levels0.8446,0.8448,0.8596,0.8597
EUR/GBP: ICHIMOKU INDICATORS ANALYSIS

Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is below the price chart, current cloud is going to reverse from ascending to descending. The instrument is trading between Tenkan-sen and Kijun-sen lines. One of the previous minimums of Chikou Span line is expected to be a support level (0.8448). The closest resistance level is the lower border of the cloud (0.8596).


EUR/GBP: ICHIMOKU INDICATORS ANALYSIS

On the daily chart Tenkan-sen line is below Kijun-sen, the blue line is directed upwards, while the red one remains horizontal. Confirmative line Chikou Span is approaching the price chart from above, current cloud is descending. The instrument has entered the cloud. One of the previous minimums of Chikou Span line is expected to be a support level (0.8446). The closest resistance level is the lower border of the cloud (0.8597).


On the both charts the instrument is still falling. It is recommended to open short positions at current price with Take Profit at the level of previous minimum of Chikou Span line (0.8448) and Stop Loss at the level of Kijun-sen line (0.8596).


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