GBP/USD: "V-Top" pattern

GBP/USD: "V-Top" pattern


The price faced resistance at 1.2913, so we've got a "V-Top" pattern, which pushed the price lower. Therefore, the market is likely going to decline in the direction of the nearest support at 1.2816 - 1.2793. If we see a pullback from this area, there'll be a chance to have bullish price movement in the direction of the next resistance at 1.2913 - 1.2945.


Bulls found resistance at 1.2932, which led to forming a "V-Top" pattern. So, the pair is likely going to test the closest support at 1.2816 - 1.2793. If a pullback from these levels happens, there'll be a green light for another bullish rally towards resistance at 1.2905 - 1.2935.




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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