The GBP/USD pair continues its upward movement. After it managed to break the resistance level 1.2590 and settled above it, thus opening the way to continue the ascent to the next target 1.2700.
Moving averages pressure the price further as it moves below the price in ascending order. The average …
The currency pair is traded inside the descendant channel’s upper border span. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions. The ascendant wave structure has finished with the channel breach.
Trading idea:
Sell when level 1.0734 is breached.
Stop-loss: 1.0789.
Target levels: 1.0643; 1.0500.
News of the day, Monday, May 30
Oil was up today, hitting two-month highs as investors are in wait for the European Union's decision on the sixth package of sanctions against Russia. Brent Crude futures increased by 0.73%, and WTI futures gained 0.85%.
The U.S. dollar continued last week’s losses …
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