FX.co ★ Actual patterns. Technical analysis and trading recommendations

The Bearish pennant pattern has formed on the GBPUSD M5 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 1.3637, a trader will be able to successfully enter the sell position.

The Double Bottom pattern has been formed on GBPUSD M5; the upper boundary is 1.3666; the lower boundary is 1.3656. The width of the pattern is 10 points. In case of a break of the upper boundary 1.3666, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.

According to the chart of M5, GBPUSD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.3639/1.3656 whereas the upper border goes across 1.3674/1.3656. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of GBPUSD will breach the upper border to head for 1.3671.

According to the chart of M5, GBPUSD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.3628/1.3635 whereas the upper border goes across 1.3643/1.3635. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of GBPUSD will breach the upper border to head for 1.3650.

The Double Bottom pattern has been formed on GBPUSD M5. Characteristics: the support level 1.3687; the resistance level 1.3698; the width of the pattern 11 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 11 points.

On the chart of GBPUSD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.3746; the lower boundary 1.3723; the width of the pattern 23 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.3700 level.

According to the chart of M5, GBPUSD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 1.3689 – 1.3689 and upper border 1.3697 – 1.3697. In case the lower border is broken, the instrument is likely to follow the downward trend.

On the chart of GBPUSD H1 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.3749; the lower boundary 1.3719; the width of the pattern 30 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.3679 level.

On the chart of GBPUSD H1 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.3769; the lower boundary 1.3698; the width of the pattern 71 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.3658 level.

The Double Top pattern has been formed on GBPUSD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.3724 is broken, the downward movement will continue.