FX.co ★ Patterns EURGBP | Euro (EUR) to British Pound (GBP) Rate in the Forex market

On the chart of the EURGBP M5 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 0.8419, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 5 points.

According to the chart of M5, EURGBP formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 0.8410 – 0.8410 and upper border 0.8417 – 0.8417. In case the lower border is broken, the instrument is likely to follow the downward trend.

The Double Bottom pattern has been formed on EURGBP M30. Characteristics: the support level 0.8407; the resistance level 0.8420; the width of the pattern 13 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 14 points.

The Double Bottom pattern has been formed on EURGBP M30; the upper boundary is 0.8414; the lower boundary is 0.8407. The width of the pattern is 7 points. In case of a break of the upper boundary 0.8414, 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, EURGBP formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 0.8409 – 0.8409 and upper border 0.8415 – 0.8415. In case the lower border is broken, the instrument is likely to follow the downward trend.

On the chart of EURGBP M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8449; the lower boundary 0.8440; the width of the pattern 9 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8410 level.

On the chart of EURGBP H1 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8449; the lower boundary 0.8442; the width of the pattern 7 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8402 level.

The Triple Top pattern has formed on the chart of the EURGBP M30 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -2, support level -11, and pattern’s width 16. Forecast If the price breaks through the support level 0.8431, it is likely to move further down to 0.8419.

According to the chart of M15, EURGBP formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.8436 and support 0.8424. In case the resistance level 0.8436 - 0.8436 is broken, the instrument is likely to follow the bullish trend.

The Double Top pattern has been formed on EURGBP M30. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.8425 is broken, the downward movement will continue.