EUR/USD reversed from support zone Next buy target - 1…
GBP/USD: bearish "Double Top"
We've got a bearish "Double Top", which has been confirmed, so the price reached the nearest support at 1.3497. Nevertheless, the market is likely going to test the next support at 1.3444 - 1.3374 in the coming hours. If a pullback from this area happens, we could have just another upward price movement.
The 34 Moving Average has acted as support, so there's a local bullish price movement, which could turn out to be a "Flag" pattern. If so, there'll be an opportunity to have a decline towards the 55 MA.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
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…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.