GBP/USD: possible "Tripe Top"

GBP/USD: possible "Tripe Top"


The market found resistance at 1.3469, so the pair is likely going to test the nearest support at 1.3513 - 1.3480 in the coming hours. However, if a pullback from this area forms afterwards, we could have another upward price movement in the direction of the next resistance at 1.3595 - 1.3618.


There's a possible "Tripe Top", which hasn't been finished yet. If this pattern confirms, bears are likely going to reach the nearest support at 1.3513 - 1.3480, which could be a departure point for another bullish price movement.



GBP/USD: "V-Top" pattern

We're likely going to have a downward correction. It's likely that bears are going to test the closest support at 1.4066 during the day...



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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