NZD/JPY falling inside minor impulse wave C Next sell target - 76…
GBP/USD: "Pennant" pattern
Bears faced with support at 1.3223, so the price is consolidating near the 89 Moving Average. Also, there's a "Flag" pattern, so the market is likely going to reach the nearest support st 1.3182 - 1.3150 in the short term. If a pullback from these levels happens little later on, there'll be an opportunity to have an upward price movement towards the next resistance at 1.3278.
We've got a "Pennant" pattern, which lower side has been broken. So, the pair is likely going to achieve the next support at 1.3182 - 1.3150. However, if we see a pullback from this area, bulls will probably try to test the 34 Moving Average.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
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…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.