GBP/USD – 1H – BUYAdditionally a ‘On Neck’ candlestick pattern is discovered. The candles show ‘On Neck’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘On Neck’ going down is 56% (Bull Market) & 58% (Bear Market).
Additionally a ‘Double top chart pattern’ chart formation is existing. The chart forms ‘Double top chart pattern’. which is a bearish pattern signal. The currency pair is likely to fall.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.34236 |
| Next High | 1.33387 |
| Current Price | 1.32516 |
| Next Low | 1.32333 |
| 2nd Low | 1.32024 |
| 3rd Low | 1.27428 |
1.33387 – 1.34236 – 1.34218 – 1.32333 – 1.33615 – 1.32024