GBP/USD: confirmed "Double Top"

GBP/USD: confirmed "Double Top"


There's a "Double Top", which has been confirmed, so bears found support at 1.2926. Therefore, the pair is likely going to decline in the direction of the nearest support at 1.2887. However, if a pullback from this level happens, bulls will probably try to achieve the next resistance at 1.2964 - 1.2976.


The price is consolidating between the 34 & 55 Moving Averages. So, bulls are likely going to reach the closest resistance at 1.2964 - 1.2976. If we have a pullback from this area, there'll be an option to have another decline towards support at 1.2926 - 1.2915.




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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