GBP/USD: bulls going to deliver new local high

GBP/USD: bulls going to deliver new local high


Bulls faced resistance at 1.2945, so the price is consolidating. However, the price is likely going to test the next resistance at 1.2945 - 1.2964 in the short term. If a pullback from this area happens, we should keep an eye on the nearest support at 1.2913 - 1.2887 as an intraday target.


The price hasn't broken resistance at 1.2932, so bears are likely going to test support at 1.2887 in the coming hours. However, if we see a pullback from this level, bulls will have a chance to reach the next resistance at 1.2964.




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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