Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is crossing the price chart from below, current cloud is 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 (0.8089). The closest resistance level is the upper border of the cloud (0.8402).
On the daily chart Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span has crossed the price chart from above, current cloud is ascending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. The closest support level is the lower border of the cloud (0.8317). One of the previous maximums of Chikou Span line is expected to be a resistance level (0.8538).
On the four-hour chart the instrument is still falling. On the daily chart the Bullish trend is still strong. It is recommended to open short positions at current price with the target at the level of previous minimum of Chikou Span line (0.8089) and Stop Loss at the lower border of the cloud (0.8402).
Euro vs British Pound
| Buy | Sell | Spread |
| 0.86399 | 0.86338 | 61 |
Scenario
| Time frame | Day's Range |
| Recommendations | SELL |
| Entry Point | 0.8351 |
| Take Profit | 0.8089 |
| Stop Loss | 0.8402 |
| Support levels | 0.8089, 0.8317, 0.8402, 0.8538 |
Alternative scenario
| Recommendations | |
| Entry Point | |
| Take Profit | |
| Stop Loss | |
| Support levels |
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