GBP/USD: broken "Flag"

GBP/USD: broken "Flag"


The last "Double Bottom" led to the massive bullish rally, but bulls faced with resistance at 1.3444. Nevertheless, the price is likely going to continue moving up towards the next resistance at 1.3479, which could be a departure point for a bearish correction.


The last "Flag" pattern has been broken, so the price is rising. The main bullish target is the closest resistance at 1.3444 - 1.3479. If a pullback from this area happens little later on, there'll be an opportunity to have a downward correction.




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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