GBP/USD: "Thorn" pattern

GBP/USD: "Thorn" pattern


There's a "Thorn" pattern, which has been confirmed, so the price is likely going to test the nearest resistance at 1.3549 - 1.3569. If a pullback from this area happens, we could have a decline towards the closest support at 1.3454.


The market is consolidating between the levels 1.3513 - 1.3454. If we see a pullback from the nearest resistance at 1.3513, there'll be an opportunity to have a downward price movement in the direction of another resistance at 1.3549 - 1.3569.




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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