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 support level is near the 1.32869 mark.
This level was formed by the Bullish Engulfing pattern. The pattern consists of two candles: the first one is inside the body of the second one, which is much larger. The second candle completely engulfs the first one.
The resistance level is near the 1.34379 mark.
This level was formed by the Three Inside Down pattern. This pattern consists of three Japanese candles: the first candle has a short black real body, the second candle also has a black real body and is completely inside the body of the first candle, and the third candle is also black and closes below the body of the second candle.
Trading recommendations:
The latest signal prioritizes short positions intraday.
