EUR/USD reversed from support zone Next buy target - 1…
GBP/USD: "Triangle" pattern led to decline
All the Moving Averages have been broken, so the price is declining. It's likely that bears are going to test the nearest support at 1.3656. If a pullback from this level happens little later on, we could have an upward price movement towards the closest resistance at 1.3799 - 1.3835.
The last "Triangle" pattern led to the current decline. Meanwhile, it's likely to have a bullish correction in the short term. However, if we see a pullback from the nearest resistance at 1.3763 - 1.3799, there'll be a moment for another decline.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
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…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.