GBP/USD: All Moving Averages were broken

GBP/USD: All Moving Averages were broken


There's a "V-Top" pattern, which pushed the price to the closest support at 1.3386. The main intraday target is the next support at 1.3336 - 1.3319. If we have a pullback from these levels, there'll be an opportunity to have an upward price movement in the direction of another resistance at 1.3430 - 1.3454.


All the Moving Averages have been broken, so the price is consolidating. It's likely that the market is going to reach the closest support at 1.3336 - 1.3319. If a pullback from this area arrives afterwards, we could have a bullish price movement towards the nearest resistance at 1.3408 - 1.3430.




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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