GBP/USD: bears going to achieve closest support

GBP/USD: bears going to achieve closest support


The price found resistance at 1.3119, so we've got a "V-Top" pattern, which set up a bearish correction. The main intraday target is the nearest support at 1.3057 - 1.2032. However, if we see a pullback from this area, we should keep in mind the next resistance at 1.3184 as a bullish goal.


We've got a "Double Top" pattern, which has been confirmed. So, bears are likely going to achieve the closest support at 1.3057 - 1.3032 during the day. At the same time, if a pullback from these levels happens, there'll be an option to have a bullish price movement towards resistance at 1.3119.



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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