GBPUSD 4H (17.08.2014) Technical Analysis Training EMA
This week we will see the EMA (50,100,200) and MACD,RSI for various diagrams.
The GBPUSD 4H technical analysis training diagram shows the following:
GBPUSD consolidates in a very narrow channel from 1.667 to 1.668. I expect a reaction towards to 3.618 of fib or EMA 50. The market is bearish as EMA 50 is under EMA 100 that is under the EMA 200.
MACD has given a bull sign and RSI turning uptrend.
Long for EMA 50 but watch carefully the behavior on 1.67199. If on Monday it declines the first target is 1.6644.
The GBPUSD 4H technical analysis training diagram shows the following:
GBPUSD consolidates in a very narrow channel from 1.667 to 1.668. I expect a reaction towards to 3.618 of fib or EMA 50. The market is bearish as EMA 50 is under EMA 100 that is under the EMA 200.
MACD has given a bull sign and RSI turning uptrend.
Long for EMA 50 but watch carefully the behavior on 1.67199. If on Monday it declines the first target is 1.6644.
