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

According to the chart of H1, GBPUSD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 1.3248 is likely to encourage a continuation of the downward trend.

On the chart of GBPUSD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.3332; the lower boundary 1.3315; the width of the pattern 17 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.3292 level.

According to the chart of M5, GBPUSD formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 1.3331/1.3322 whereas the lower border goes across 1.3314/1.3322. The pattern width is measured on the chart at 17 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 1.3322 is broken, the price could continue its move toward 1.3337.

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 1.3317 is broken, the downward movement will continue.

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 1.3297 is broken, the downward movement will continue.

The Bullish pennant graphic pattern has formed on the GBPUSD M5 instrument. This pattern type falls under the category of continuation patterns. In this case, if the quote can breaks out high, is expected to continue the upward trend to level 1.3301.

According to the chart of M15, GBPUSD formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 1.3276, the lower border is 1.3248. The signal means that a short position should be opened after fixing a price below the lower border 1.3248 of the Bearish Rectangle.

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 1.3264 is broken, the downward movement will continue.

The Double Bottom pattern has been formed on GBPUSD M15. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 1.3276 is broken. The further movements will rely on the width of the current pattern 27 points.

The GBPUSD H1 formed the Head and Shoulders pattern with the following features: The Head’s top is at 1.3422, the Neckline and the upward angle are at 1.3361/1.3354. The formation of this pattern can bring about changes in the current trend from bullish to bearish. In case the pattern triggers the expected changes, the price of GBPUSD will go towards 1.3314.