GBP/USD: bulls showed weakness

GBP/USD: bulls showed weakness


SELL 1.3520

SL 1.3575

TP1 1.342 TP2 1.332

On the daily chart, the inability of bulls to get above resistance at 1.3520 and 1.3585 points at their weakness. As long as GBP/USD is trading below 1.3605, risks of consolidation are rising. If this level is breached, the possibility of the uptrend’s resumption will go up.


On H1, one may use rebound strategies. If the pair reaches 88.6% target of the “Bat” with the following recoil of the descending channel’s upper border, this will trigger “Three Indians” pattern and be a signal for selling.





EUR/GBP: pound is chasing a bat

On the daily chart of EUR/GBP, bears managed to seize the initiative and brought the pair to the lower border of the medium-term consolidation range (0.8695-0.9015). If the pair triggers the “Bat” pattern, the odds of it going to its 88.6% target at 0.8635 will increase.

EUR/USD: bears hit the breaks

On the daily chart, EUR/USD reached an interim target at 78.6% of the “Bat”. The pair formed an inside bar. A break of its upper border will increase the odds of a break above the diagonal resistance and a trigger of the “Shark” pattern.


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…

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