Let's look at the four-hour 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 below 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 (0.8680). One of the previous maximums of Chikou Span line is expected to be a resistance level (0.8952).
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 Tenkan-sen line (0.8651). One of the previous maximums of Chikou Span line is expected to be a resistance level (0.8980).
It is recommended to open long positions at current price with the target at the level of previous maximum of Chikou Span line (0.8952) and Stop Loss at the upper border of the cloud (0.8680).
Euro vs British Pound
| Buy | Sell | Spread |
| 0.86399 | 0.86338 | 61 |
Scenario
| Time frame | Day's Range |
| Recommendations | BUY |
| Entry Point | 0.8736 |
| Take Profit | 0.8952 |
| Stop Loss | 0.8680 |
| Support levels | 0.8651, 0.8680, 0.8952, 0.8980 |
Alternative scenario
| Recommendations | |
| Entry Point | |
| Take Profit | |
| Stop Loss | |
| Support levels |
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