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 nearest support is set at the 1.33241 mark.
This level was formed by the Bullish Harami pattern. The pattern is represented with two Japanese candles, where the second one with a smaller real body is inside the body of the first one.
The nearest resistance is set at the 1.34605 mark.
The level was formed by the Shooting Star pattern. This pattern is a single candlestick which is composed of a small real body and a long upper shadow. This pattern is usually called “Pin Bar” by traders.
Trading recommendations:
The upward dynamics prevail on a longer time period, but the short positions should be prioritized during the day because the latest signal suggests a dominant downward movement.
