DLavrov
Long

GBPUSD Buy Opportunity

FX:GBPUSD   British Pound / U.S. Dollar
The daily chart gives bullish signals. Based on the 4H time frame we can see that the price reached the downtrend line. In spite of RSI confirms the price reversal, MACD histogram and DMI support a further upward movement. We should be ready to see a breakout above the downtrend line. It will give us a new buy opportunity. Entry level is 1.40850 with stop orders at 1.38500 level. Profit targets are 1.43000 and 1.45000 levels. Alternative variant: if the price bounces from the downtrend line and drops below the uptrend line, it will be possible to open short trades with profit targets 1.38000 and 1.36000 support levels.
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Bounced from the local Swing Low and now we have a Bull Hammer!
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