GBP/USD: bears can't stop

GBP/USD: bears can't stop


Bears faced with support at 1.3081, but the market is likely going to test the next support at 1.3017 - 1.2994 in the short term. If a pullback from this area happens, we could have a bullish price movement towards the nearest resistance area at 1.3081 - 1.3115.


The price is still declining. The main bearish target is the nearest support at 1.3017 - 1.2994. If a pullback from this area happens little later on, there'll be an opportunity to have a bullish price movement in the direction of the closest resistance at 1.3081 - 1.3115.




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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