GBP/USD remembered the triangle

GBP/USD remembered the triangle


SELL 1.3000, SL 1.3055, TP 1.2900

BUY 1.3125 SL 1.3070 TP1 1.3300 TP2 1.3500

On the daily chart, bears are trying to return GBP/USD inside the rising triangle. If they succeed, the possibility of the medium-term consolidation in the 1.2600-1.3000 will increase. On the contrary, rebound from the current support will increase the risks of continuation to the upside, towards 200% target of AB=CD.


On H1, decline below 1.3000 will create the basis for correction to 1.2920 and 1.2900. For the uptrend to resume, the pair has to rise to July high.




USD/JPY: the Bulls don’t want to give up

Expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but narrowing channel of Tenkan-Kijun; the market is breaking out the resistance of Tenkan-sen and Kijun-sen.

AUD/USD: market is oversold

Bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with falling Tenkan-sen; the market is oversold and aussie may go to Tenkan-sen in correctional movement.



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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