GBP/USD: "V-Top" pattern led to decline

GBP/USD: "V-Top" pattern led to decline

22-2-2018-GBP-H4 (2).png

The last "V-Top" pattern led to the current decline. However, the pair is likely going to test the 55 Moving Average. If a pullback from this line happens afterwards, there'll be a moment for another decline.

22-2-2018-GBP-H1 (2).png

There's a "V-Bottom" pattern, so the market is likely going to test the Moving Averages. Meanwhile, if we have a pullback from these lines, bears will probably try to reach the next support at 1.3835 - 1.3799.




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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