FOREXCOM:EURGBP   Fx Euro/Pound British
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Let's look at the four-hour chart. Tenkan-sen line has crossed Kijun-sen from above, the blue line is directed upwards, while the red one remains horizontal. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument has been corrected to the Tenkan-sen line. The closest support level is the upper border of the cloud (0.87857). The closest resistance level is Tenkan-sen line (0.87984). On the daily chart Tenkan-sen line is above Kijun-sen, the blue line is directed upwards, while the red one remains horizontal. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument has been corrected to the Tenkan-sen line. The closest support level is Tenkan-sen line (0.87512). One of the previous maximums of Chikou Span line is expected to be a resistance level (0.88472).
On the four-hour chart we can see the beginning of the trend reversal. On the daily chart we can see a correction of the upward movement. It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (0.88472) line and Stop Loss at the level of Kijun-sen line (0.86277).
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