GBP/USD: main trend still bullish

GBP/USD: main trend still bullish


The main trend is still bullish, but the price is still consolidating near the 34 Moving Average. So, it's likely to have a decline in the direction of the closest support at 1.3519 - 1.3493. Meanwhile, if we have a pullback from this area, bulls will probably try to achieve the next resistance at 1.3595 - 1.3618.


The pair is consolidating near the 55 Moving Average. The main intraday target is the closest resistance at 1.3595. At the same time, if we see a pullback from this level, there'll be an opportunity to have a downward price movement in the direction of another support at 1.3537 - 1.3519.




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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