GBP/USD: main trend is still bullish

GBP/USD: main trend is still bullish


The main trend is still bullish, but the market is consolidating. However, considering the last 'Pennant' pattern, the pair is likely going to test the next resistance area at 1.4217 - 1.4243.


There's a 'Pennant' pattern, which upper side has been broken. So, there's an open door for a bullish price movement in the direction of the nearest resistance at 1.4199 - 1.4217.




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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