GBPUSD closes the last trading session in the green zone, while the downward price movement vector prevails on the higher time-frame.
The support and resistance levels:
The closest support to the price is at the 1.33054 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 1.33691.
This level was formed by the Bearish Harami pattern, which is presented with two Japanese candlesticks where the second candlestick with a smaller real body is inside the body of the first one.
Trading recommendations:
The latest pattern formed on the chart prioritizes short positions. This signal is also proved with the price movement dynamics on the higher time-frame.
