GBP/USD: bearish "Pennant"

GBP/USD: bearish "Pennant"


The last "Rising Wedge" has been broken. In this case, the pair is likely going to achieve the nearest support at 1.2581 - 1.2514. If a pullback from this area happens, there'll be an opportunity to have an upward correction towards the closest resistance at 1.2581 - 1.2634.


Bears faced support at 1.2634. Also, there's a bearish "Pennant", so the market is likely going to reach the next support at 1.2581 - 1.2514. If we see a pullback from these levels, bulls will probably try to achieve resistance at 1.2581.



EURUSD: bearish "High Wave"

We could have a local downward correction towards the nearest support. If a pullback from this area happens...


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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