GBP/USD: market going to climb even higher

GBP/USD: market going to climb even higher


The last "Flag" pattern has been broken, so the price is rising. The main intraday target is the nearest resistance at 1.3345 - 1.3374. If a pullback from this area happens little later on, bears will try to test the closest support at 1.3277 - 1.3249.


The price is consolidating, but the market is likely going to climb even higher. Therefore, we should keep an eye on the next resistance at 1.3345 - 1.3374 as an intraday target, which could be a departure point for a bearish correction.




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…

EUR/USD: euro hung on Tenkan-Kijun

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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