FX.co ★ EUR/GBP

Good day. EURGBP – Market situation. The currency pair is trading at 0.85551, located below the Ichimoku cloud. A crossover of the Tenkan-Sen line at 0.85601 is observed, which is positioned below the Kijun-Sen line at 0.85666. This crossover has generated a sell signal. Overall, the indicator shows a very strong sell signal; based on this data, look for an entry point for a sell. I will hold the short position until a reverse signal appears. The reverse signal will occur when the price breaks the cloud upwards and the market consolidates above it, or you can take an early signal when the Tenkan line crosses above the Kijun line. The Ichimoku cloud consists of the Senkou Span B line at 0.85701 and Senkou Span A at 0.85685, which currently act as strong resistance levels. The closer the market approaches them without entering the cloud, the more favorable the selling point becomes.