GBP/USD: resistance waiting for bulls

GBP/USD: resistance waiting for bulls


The 55 Moving Average has acted as support, so we've got a "Double Bottom" on this line. Therefore, the pair is likely going to rise towards the closest resistance at 1.2964 - 1.2995. If a pullback from this area happens, we should keep an eye on support near the uptrend as a bearish target.


The last "Double Bottom" has been confirmed, so the price is rising. It seems like bulls are ready to push the market even higher. The main intraday target is resistance at 1.2955 - 1.2964. If buyers stop here, bears will have a chance to some revenge.




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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