FX.co ★ Patterns GBPUSD | British Pound (GBP) to US Dollar (USD) Rate in the Forex market

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 1.3394 is broken, the downward movement will continue.

According to the chart of M5, GBPUSD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 1.3377 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -24 pips.

The Triple Bottom pattern has formed on the chart of GBPUSD M5. Features of the pattern: The lower line of the pattern has coordinates 1.3405 with the upper limit 1.3405/1.3401, the projection of the width is 16 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 1.3389, the price is most likely to continue the upward movement.

The Triple Bottom pattern has formed on the chart of GBPUSD M15. Features of the pattern: The lower line of the pattern has coordinates 1.3337 with the upper limit 1.3337/1.3323, the projection of the width is 22 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 1.3315, the price is most likely to continue the upward movement.

According to M5, GBPUSD is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 1.3519/1.3519 is broken out, the instrument is likely to move toward 1.3534.

According to M30, GBPUSD is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 1.3550/1.3528 is broken out, the instrument is likely to move toward 1.3558.

According to the chart of M15, GBPUSD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 1.3484 while the median line of the Neck is set at 1.3509/1.3519. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of GBPUSD will go towards 1.3542.

According to the chart of M5, GBPUSD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 1.3501 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -66 pips.

The Double Top reversal pattern has been formed on GBPUSD M5. Characteristics: the upper boundary 1.3600; the lower boundary 1.3590; the width of the pattern is 9 points. Sell trades are better to be opened below the lower boundary 1.3590 with a possible movements towards the 1.3575 level.

On the chart of GBPUSD M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.3634; the lower boundary 1.3545; the width of the pattern 89 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.3515 level.