GBP/USD:  support waiting for bears

GBP/USD: support waiting for bears


The price faced support at 1.2865, but the market is likely going to continue falling down in the direction of the next support at 1.2843. If a pullback from this level forms afterwards, there'll be an option to have an upward price movement towards resistance at 1.2945 - 1.2964.


Bears meet support at 1.2865, so the price is consolidating. Anyway, the pair is likely going to achieve another support at 1.2843 - 1.2816 soon. If sellers are stopped here, bulls will probably try to deliver an upward correction in the direction of the closest resistance at 1.2926.




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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