GBP/USD: resistance waiting for bulls

GBP/USD: resistance waiting for bulls


The price found resistance at 1.2757, but bulls are likely going to reach the next resistance at 1.2817 in the short term. Meanwhile, if a pullback from this level arrives afterwards, there'll be an option to have a local decline in the direction of the closest support at 1.2678 - 1.2634.


We've got a consolidation, which is taking place under resistance at 1.2757. In this case, the market is likely going to test the nearest resistance at 1.2793 in the coming hours. If we see a pullback from this level, bears will have a green light to achieve support at 1.2690 - 1.2643.




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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