GBP/USD: "V-Bottom" pattern

GBP/USD: "V-Bottom" pattern


We've got a "V-Bottom", so there's an opportunity to have a local bullish correction. Meanwhile, bears are likely going to test the next support at 1.3182 - 1.3150 afterwards. If we have a pullback from this area, bulls will probably try to deliver an upward price movement.


There's a "Double Bottom", which has been confirmed. So, the main intraday target is the nearest resistance at 1.3328. However, if a pullback from this level happens, we could have another decline.



EUR/USD: "V-Top" pattern

The pair is likely going to test the nearest support at 1.2313. If a pullback from this level 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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