GBP/USD:  "Triangle" pushing price higher

GBP/USD: "Triangle" pushing price higher


The price is consolidating between the 34 Moving Average and resistance at 1.3057. Also, there's a triangle, so the pair is likely going to test the nearest resistance at 1.3057 - 1.3090. If a pullback from this area happens, there'll be an option to have a decline in the direction of the closest support at 1.2964 - 1.2945.


We've got a "Double Bottom", so the price has reached resistance at 1.2988. Also, there's a triangle, so bears are likely going to test the 89 Moving Average soon. Meanwhile, if a pullback from this line happens, bulls will probably try to test resistance at 1.3021 - 1.3028.



GBP/USD: "Thorn" pattern

The market is going to test the closest support at 1.4069 - 1.4027. If a pullback from these area happens little later on...



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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