Moving back up, the reversal calls. On the 4hours time frame, the price chart of GBPUSD has been spotted forming a double top reversal chart pattern. The first the to consider is price dropping to complete the formation of the double top. A drop to the valley of the two tops at $1.28069 will make the double top complete. The support will be tested for the third time before a breakdown through it.
Traders should keep an eye on the following levels below as these levels marks the measured height from the peak to to bottom(valley). This is used to measure the level of move to the down side.
Completion of the double top price level: $1.28069
Breakdown level: $1.27814
Support 1: $1.27331
Support 2: $1.26527
Support 3: $1.25792
Good luck to everyone! Click the follow button to stay tuned for more trading ideas! Like the idea? Hit the like button!
Ideas published should not be referred to as an investment advice and happy new months guy.
Traders should keep an eye on the following levels below as these levels marks the measured height from the peak to to bottom(valley). This is used to measure the level of move to the down side.
Completion of the double top price level: $1.28069
Breakdown level: $1.27814
Support 1: $1.27331
Support 2: $1.26527
Support 3: $1.25792
Good luck to everyone! Click the follow button to stay tuned for more trading ideas! Like the idea? Hit the like button!
Ideas published should not be referred to as an investment advice and happy new months guy.