GBP/USD waiting to test a supply area

GBP/USD waiting to test a supply area

GBP/USD has been recently favored by a weak USD across the marks and now it’s doing a rebound from the low of 1.2772. That move could put the pair on the way to reach the supply zone established between the 1.3077 and 1.3019 levels, at which lies a strong territory for sellers, according to our Fibonacci projections.

RSI indicator remains slightly below the 50 level territory, favoring for a consolidation before any significant move.




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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