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 1.34127 mark.
This level was formed by the Hammer pattern, also known as the Pin Bar pattern. This pattern is represented with a single Japanese candlestick which is composed of a small real body and a long lower shadow.
The nearest resistance level is at the level of the 1.34626.
This level was formed by a Pin Bar pattern. This pattern is presented with a single Japanese candle with a small real body and a long upper shadow. This is one of the key patterns in the Price Action system.
Trading recommendations:
The latest signal prioritizes short positions intraday.
