GBP/USD: "Thorn" pattern

GBP/USD: "Thorn" pattern


We've got a new local high, so there's a "Thorn" pattern. In this case, the price is likely going to reach the nearest support area at 1.3320 - 1.3298. This target could be a departure point for an upward price movement in the direction of the next resistance at 1.3370 - 1.3408.


There's a consolidation, which is taking place between the levels 1.3370 - 1.3220. The main intraday target is the closest support at 1.3320 - 1.3298. If a pullback from this area happens little later on, bulls will probably try to achieve another resistance at 1.3370 - 1.3408.



GBP/USD: "V-Top" pattern

We're likely going to have a downward correction. It's likely that bears are going to test the closest support at 1.4066 during the day...



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…

EUR/USD: euro hung on Tenkan-Kijun

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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