EUR/USD reversed from support zone Next buy target - 1…
GBP/USD: "V-Bottom" pattern
All the Moving Averages have been broken. Also, there's a "V-Bottom" pattern, so the price is likely going to test the nearest resistance area at 1.3944 - 1.3979. At the same time, if we see a pullback from these levels, there'll be a moment for another decline.
We've got a "V-Bottom", so the pair is consolidating. The main intraday target is the 89 Moving Average. If we have a pullback from this line, bears will probably try to deliver a local downward price movement.
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.