GBPUSD - Double Top
GBPUSD has formed a Double Top .
Presently the price action is caught between the Neckline of the Double Top and Structural Support.
The Double Top is one of the reversal patterns. The projected target is the height of the First Peak.
This would put price at 1.2930 , which will lie between the Fibonacci .50 and .618 levels.
The current bias is short.
Presently the price action is caught between the Neckline of the Double Top and Structural Support.
The Double Top is one of the reversal patterns. The projected target is the height of the First Peak.
This would put price at 1.2930 , which will lie between the Fibonacci .50 and .618 levels.
The current bias is short.
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