British Pound/USD 4h (31.08.2014) Technical Analysis Training

FX:GBPUSD   British Pound / U.S. Dollar
321 0
GBPUSD 4H Diagram Technical Analysis shows the following:

The GBPUSD has made a bottom reversal pattern last week metting the resistance of KUMO. The daily diagram has turn bullish ( MACD gave bullish sign under the zero line daily).

MACD is forcing bullish on 4h diagram.

We have almost a hammer last 4h on Friday. The pair is under the KUMO, but is above the Kijun Sen (blue line) and under the Tenkan Sen (green line) .

There is no special pattern. The fib from 1.71635 to 1.70416 shows a 4.236 level of next target @ 1.66471.

Long for it. Stop loss under the support line of the asceding triangle.
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