GBP/USD: bullish "Thorn"

GBP/USD: bullish "Thorn"


There's a bullish "Thorn", which led to forming a new local high. The main intraday target is the next resistance at 1.3278 - 1.3298. Meanwhile, if a pullback from these levels arrives afterwards, bears will probably try to reach another support at 1.3238 - 1.3213.


Bulls have broken the local downtrend line, so the price is rising. It's likely that the pair is going to achieve the next resistance at 1.3278 - 1.3298 during the day. This area could be a departure point for a bearish correction in the direction of the closest support at 1.3238 - 1.3213.




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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