GBPUSD closes the last trading session in the green zone, while the downward price movement vector prevails on the higher time-frame.
The support and resistance levels:
The support level is near the 1.34723 mark.
This level was formed by the Hammer pattern, also known as the Pin Bar pattern. This pattern is represented with a single Japanese candlestick which is composed of a small real body and a long lower shadow.
The resistance level is near the 1.3535 mark.
The Bearish Engulfing pattern formed this level. It consists of two Japanese candles: the first candle is located inside the body of the second candle.
Trading recommendations:
During the day, it is worth considering the possibilities for opening short positions. This is indicated by both: the dynamics of price movement over a longer distance and the latest formed pattern.
