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 nearest support level is at the price level of the 1.34906.
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 nearest significant resistance level is at the 1.35336 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 on the chart indicates the prevalence of the long positions. This signal is valid, until the other pattern is formed.
