GBP/USD: main trend still bullish

GBP/USD: main trend still bullish


The main trend is still bullish, so the last high is likely going to be broken soon. The main intraday target is the next resistance at 1.3612 - 1.3656. If a pullback from these levels happens little later on, bears will probably try to test the closest support at 1.3569 - 1.3549.


All the Moving Averages have been broken, so the price is rising. It seems like bulls are going to reach the next resistance at 1.3612 - 1.3656 in the coming hours. However, if a pullback from this area is on the table, we could have a correction in the direction of the nearest support at 1.3584 - 1.3549.




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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