GBP/USD: price broken all Moving Averages

GBP/USD: price broken all Moving Averages


We've got a confirmed "Triple Bottom", so the price has broken all the Moving Averages. The main intraday target is the next support at 1.3408 - 1.3386. Meanwhile, if a pullback from this area happens, bulls will probably try to reach the nearest resistance at 1.3479 - 1.3519.


The pair faced resistance at 1.3454, so the price is consolidating. It's likely that the market is going to reach the closest support at 1.3408 - 1.3398. This area could be a departure point for an upward price movement in the direction of the next resistance at 1.3478.




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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