d.vezeris

GBPUSD 4H (22.07.2014) American Ses. Chart Technical Analysis

FX:GBPUSD   BRITISH POUND / U.S. DOLLAR
222 1 1
GBPUSD             4H Diagram Technical Analysis shows the following:

The GBPUSD             has made a short term decline under the resistance red line. The daily diagram is neutral to bearish .
MACD is marginally bearish under the zero line and RSI gets 41 trying to reverse.

We have no special candlestick pattern. The price is under the KUMO the Kijun Sen (blue line) and the Tenkan Sen (green line) too.

There is a descending triangle that makes bear thoughts.

Stay aside. Make your movement considering the triangle. Long if the pair stabilizes above resistance line otherwise short under the green line support or the EMA 200.
My guess would be a break south as my FIB levels on Daily and 240 have recently filled their extension levels of 1.618 at 1.7178 and with three failed attempts to push up through the level resistance...I feel a deeper pull-back is due. #FamousLastWords LOL
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