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 closest support to the price is at the 1.36228 mark.
The Penetrating Line pattern formed this level. The pattern consists of two candles: the first one has a long black body, the second one has a white body. The second candle opens with a gap down and closes above the middle of the first candle’s body.
The nearest resistance level is at the level of the 1.37148.
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:
On the higher time-frame, the upward price dynamics prevail. The last signal on the chart also indicates the upcoming growth. Against this background, it is worth prioritizing the buy signals during the day.
