GBP/USD: price near the last high

GBP/USD: price near the last high


There's a consolidation, which is taking place below resistance at 1.2705. So, the pair is likely going to achieve the 34 Moving Average in the short term. If we have a pullback from this line, bears will have a green light to reach the closest support at 1.2634 - 1.2581.


The price is near the last high. Considering that there isn't any reversal pattern so far, the pair is likely going to test the next resistance at 1.2722 - 1.2757. If a pullback from these levels happens, we should keep an eye on the nearest support at 1.2643 - 1.2581 as an intraday bearish target.




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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