GBP/USD: bulls going to test 89 MA

GBP/USD: bulls going to test 89 MA


There's a "Double Bottom", which pushed the price towards resistance at 1.2705. In this case, the market is likely going to reach the nearest resistance at 1.2705 - 1.2757. Meanwhile, if a pullback from this area happens, we should keep an eye on the next support at 1.2581 - 1.2514 as a bearish intraday target.


The 55 Moving Average has acted as resistance, so we've got a "V-Top" pattern on this line. However, bulls are likely going to test the 89 MA in the coming hours. If we see a pullback from this line, bears will probably try to deliver a new local low.




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…

promotions you can be interested in

Deposit with your local payment systems


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera