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 nearest support level is at the price level of the 1.33899.
The level was formed by the Three White Soldiers pattern. This pattern consists of three consecutive white long-bodied Japanese candlesticks that open inside the real body of the previous candle and close above its closing. The probability of a reversal forming when this pattern appears is about 80%.
The nearest significant resistance level is at the 1.34605 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:
The price movement dynamics for a longer period of time as well as the latest signals on the chart indicate the long positions opening intraday. The entry points can be considered from the nearest support levels.
