GBP/USD: "Exhaustion Gap" closed

GBP/USD: "Exhaustion Gap" closed

GBP/USD: "Exhaustion Gap" closed

The last “Exhaustion Gap” has been closed, so we’ve got a “V-Top” pattern. Therefore, the pair is likely going to test the closest support at 1.2856 – 1.2816 in the short term. If we see a pullback from this area, there’ll be a chance to have a local upward price movement towards a resistance at 1.2913 – 1.2945.

GBP/USD: "Exhaustion Gap" closed

There’s a “V-Top” pattern, which has been formed under a resistance at 1.2945. The 34 Moving Average is acting as a support. Therefore, the pair is likely going to decline in the direction of the closest support at 1.2865 – 1.2844. If a pullback from these levels be on the table, we should keep an eye on a resistance at 1.2865 – 1.2900 as a possible bullish target.



AUD/USD on its way to reach new highs

AUD/USD has been trading in a rebound made from the 200 SMA at H1 chart, which is helping to strengthen the bullish bias across the board and put the pair in the scenario to reach the Fibonacci zone of -23…


Morning brief for June 2

Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…

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