GBP/USD reached buy target 1.3400

GBP/USD reached buy target 1.3400

  • GBP/USD reached buy target 1.3400
  • Next buy target -1.3700

GBP/USD today broke sharply above the resistance zone lying between the resistance level 1.3400 (previous buy target) and the resistance trendline of the wide daily up channel from April, as can be seen below. The breakout of this resistance zone accelerated the active minor impulse wave 3, which belongs to the intermediate impulse wave (3) from the middle of June. GBP/USD is expected to rise to the next buy target at the next resistance level 1.3700.



EUR/USD: "V-Top" pattern

The pair is likely going to test the nearest support at 1.2313. If a pullback from this level happens little later on...



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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