GBP/USD: pair going to test closest resistance

GBP/USD: pair going to test closest resistance


The market is still consolidating along the Moving Averages. The main intraday target is the next resistance area at 1.3419 - 1.3445. At the same time, if a pullback from these levels takes place, there'll be an opportunity to have another decline in the direction of the nearest support at 1.3336 - 1.3300.


There's a consolidation, which is happening under the Moving Averages. Therefore, the pair is likely going to test the closest resistance at 1.3408 - 1.3419. This area could be a departure point for a downward price movement towards the nearest support at 1.3336 - 1.3319.




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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