Price is ranging sideways on this GBP/USD pair, it is now holding at the daily chart support level. Based on the daily chart shown, price has now formed a small false break bullish hammer pattern after price action formed an inside bar. This bullish hammer pattern is rejecting the daily support level around 1.2860. For this hammer candlestick pattern to complete, we would need to see price break the hammer's highs. If this happen we could see the support level hold and long trades activate with price move into the next resistance around 1.300 and then 1.3168.
PhoenixMan
