GBP/USD: price going to test next resistance

GBP/USD: price going to test next resistance


There's a "V-Bottom" pattern, which has been confirmed. Therefore, the market is likely going to test the nearest resistance area at 1.3386 - 1.3408. These levels could be a departure point for another decline towards the next support at 1.3300 - 1.3278.


We've got a "Double Bottom", so the price is rising. The main intraday target is the nearest resistance at 1.3386 - 1.3408. Meanwhile, if a pullback from this area happens, bears will probably try to reach another support at 1.3300 - 1.3278.




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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