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 1.34127 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 current resistance level is at the 1.35086 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:
The latest signal prioritizes short positions intraday.
