GBP/USD: 34 Moving Average acting as support

GBP/USD: 34 Moving Average acting as support


The price is consolidating under the 34 Moving Average. There isn't any reversal pattern, so we should keep an eye on the 89 MA as the next bullish target. If a pullback from this line arrives little later on, bears will probably try to deliver just another decline.


The 34 Moving Average is acting as support. Also, there's a bullish "Pennant" pattern, so the pair is likely going to reach the nearest resistance area at 1.3182 - 1.3205 during the day. If we see a pullback from these levels afterwards, there'll be a moment to have a downward price movement.



Bitcoin (BTC/USD) opening the doors for a lower extension

As we had anticipated in previous reports, Bitcoin has finally made a break of the important level of support at 12,852 and is now on track to reach the Fibonacci level of 0% at 10,680, which could mean a bearish continuation that will allow to…


Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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