During the previous trading session, the price of GBPUSD decreased, moving in the main trend direction on the higher time-frame.
The support and resistance levels:
The closest support to the price is at the 1.33624 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 nearest resistance level is at the level of the 1.34127.
This level was formed by the Evening Star pattern. This pattern consists of three Japanese candlesticks: the first candle has a long white real body, the second candle is a doji with a small real body, and the third candle has a long black real body. The third candle opens below the close of the second candle and closes below the first candle.
Trading recommendations:
The latest pattern formed on the chart prioritizes short positions. This signal is also proved with the price movement dynamics on the higher time-frame.
