GBP/USD – 4H – BUYFurthermore a ‘Hammer’ candlestick pattern is found. The candles form ‘Hammer’. this is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Hammer’ heading up is 60% (Bull Market) & 59% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.27873 |
| 2nd High | 1.27283 |
| Next High | 1.26073 |
| Current Price | 1.23654 |
| Next Low | 1.23521 |
| 2nd Low | |
| 3rd Low |