GBP/USD: resistance waiting for bulls

GBP/USD: resistance waiting for bulls

GBP/USD: resistance waiting for bulls

The last “Pennant” was broken, but bulls haven’t moved higher yet. So, the price is consolidating under a resistance at 1.2865. Nevertheless, the market is likely going to achieve the next resistance at 1.2911 – 1.2945. If a pullback from these levels be on the table, there’ll be a chance to have a bearish correction.

GBP/USD: resistance waiting for bulls

The price is consolidating near the broken “Pennant”. The main intraday target is the nearest resistance at 1.2911, which could be a departure point for a downward correction towards the 89 Moving Average.



GBP/USD: bullish "Flag"

The pair is going to continue moving up in the direction of another resistance at 1.4144 - 1.4277...



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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