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

According to the chart of M5, GBPAUD formed the Head and Shoulders pattern. The Head’s top is set at 1.9712 while the median line of the Neck is found at 1.9619/1.9629. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of GBPAUD will go towards 1.9614.

The Double Bottom pattern has been formed on GBPAUD M5. Characteristics: the support level 1.9627; the resistance level 1.9693; the width of the pattern 66 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 63 points.

According to the chart of M5, GBPAUD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 1.9521 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -241 pips.

According to the chart of M5, GBPAUD formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 1.9532, the lower border is 1.9502. The signal means that a short position should be opened after fixing a price below the lower border 1.9502 of the Bearish Rectangle.

According to the chart of M5, GBPAUD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.9686/1.9703 and upper border is 1.9717/1.9703. The pattern width is measured on the chart at -31 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and GBPAUD breaches the lower border, the price could continue its move toward 1.9688.

According to the chart of M5, GBPAUD formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 1.9722, the lower border is 1.9695. The signal means that a short position should be opened after fixing a price below the lower border 1.9695 of the Bearish Rectangle.

The Double Top pattern has been formed on GBPAUD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.9682 is broken, the downward movement will continue.

According to the chart of M5, GBPAUD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 1.9732 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -31 pips.

According to the chart of M5, GBPAUD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 1.9760 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -54 pips.

The Double Top reversal pattern has been formed on GBPAUD M5. Characteristics: the upper boundary 1.9774; the lower boundary 1.9764; the width of the pattern is 10 points. Sell trades are better to be opened below the lower boundary 1.9764 with a possible movements towards the 1.9749 level.