During the previous trading session, GBPUSD demonstrated downward dynamics. On a longer time-frame, the upward trend still prevails.
The support and resistance levels:
The current support level is in the area of the 1.34472 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 1.3535 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:
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.
