GBP/USD: "Thorn" pattern

GBP/USD: "Thorn" pattern

19-12-2017-GBP-H4 (1).png

There's a "Thorn" pattern, which has been formed under the 34 Moving Average. The main intraday target is the closest resistance at 1.3408 - 1.3454, which could be a departure point for another decline.

19-12-2017-GBP-H1 (1).png

We've got a "Thorn" pattern, so the price is rising. Meanwhile, if a pullback from the nearest resistance at 1.3430 - 1.3447 happens, there'll be an opportunity to have a decline towards the closest support at 1.3360 - 1.3336.




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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