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 closest support to the price is at the 1.33517 mark.
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 resistance level is at the level of the 1.34788.
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 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.
