During the previous trading session, the positive dynamics of the GBPUSD movement were seen. On a longer time-frame, the upward price movement vector also prevails.
The support and resistance levels:
The current support level is in the area of the 1.33806 mark.
This level is formed due to the appearance of the Pin Bar pattern. This pattern is represented with a candle with a small real body and a long lower shadow. This pattern is quite common at strong support levels.
The current resistance level is at the 1.34788 mark.
The level was formed by the Shooting Star pattern. This pattern is a single candlestick which is composed of a small real body and a long upper shadow. This pattern is usually called “Pin Bar” by traders.
Trading recommendations:
On the higher time-frame, the upward price dynamics prevail. The last signal on the chart also indicates the upcoming growth. Against this background, it is worth prioritizing the buy signals during the day.
