GBP/USD: "Thorn" acted as support

GBP/USD: "Thorn" acted as support


The last "Thorn" pattern has acted as support, so the price is consolidating. Nevertheless, the local low is likely going to be broken, so we should keep an eye on the nearest support at 1.2634 - 1.2581 as an intraday target. If a pullback from this area happens, there'll be a green light for an upward correction towards resistance at 1.2678 - 1.2705.


The price is consolidating between the levels 1.2678 - 1.2634. Also, there's a "Pennant" pattern, so the market is likely going to decline in the direction of the closest support at 1.2634 - 1.2581. At the same time, bulls will probably try to reach resistance at 1.2678 - 1.2705 afterwards.



EUR/USD: euro going lower

Narrowing irregular bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with falling Tenkan-sen; the market are in the negative area and made the new lows.

EUR/USD inside a key support area

The EUR/USD pair was smashed during Friday’s session amid a strong USD across the board, helping to push the pair towards the Fibonacci zone of 65% at 1…


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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