GBP/USD falling inside minor ABC correction 2

GBP/USD falling inside minor ABC correction 2

  • GBP/USD falling inside minor ABC correction 2
  • Next sell target - 1.3000

GBP/USD continues to fall inside the minor ABC correction 2 – which previously broke through the support zone lying between the key support level 1.3270 (former resistance level from August and September) and the 50% Fibonacci correction of the previous upward price impulse from the end of August. The breakout of this support zone accelerated the active ABC correction 4. GBP/USD is expected to fall further to the next sell target at the next round support level 1.3000.




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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