FX.co ★ Patterns GBPAUD | British Pound (GBP) to Australian Dollar (AUD) Rate in the Forex market

The Triple Bottom pattern has been formed on GBPAUD M30. It has the following characteristics: resistance level 1.8982/1.8979; support level 1.8954/1.8956; the width is 28 points. In the event of a breakdown of the resistance level of 1.8982, the price is likely to continue an upward movement at least to 1.8977.

The Triple Bottom pattern has formed on the chart of the GBPAUD M15 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 1.8982/1.8979.

According to the chart of M5, GBPAUD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.8947/1.8961 and upper border is 1.8980/1.8961. The pattern width is measured on the chart at -33 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 1.8946.

According to the chart of M5, GBPAUD formed the Head and Shoulders pattern. The Head’s top is set at 1.9075 while the median line of the Neck is found at 1.9049/1.9051. 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 1.9036.

According to the chart of M15, GBPAUD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.9005/1.9023 and upper border is 1.9049/1.9023. The pattern width is measured on the chart at -44 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 1.9001.

According to the chart of H1, GBPAUD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.9166 - 0.0000 and support 1.9124 – 1.9124. In case the resistance level 1.9124 - 1.9124 is broken, the instrument is likely to follow the bearish trend.

According to the chart of M30, GBPAUD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.9166 - 0.0000 and support 1.9125 – 1.9125. In case the resistance level 1.9125 - 1.9125 is broken, the instrument is likely to follow the bearish trend.

According to the chart of M5, GBPAUD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.9212 - 0.0000 and support 1.9186 – 1.9186. In case the resistance level 1.9186 - 1.9186 is broken, the instrument is likely to follow the bearish trend.

According to the chart of M5, GBPAUD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 1.9151 – 1.9151 and upper border 1.9174 – 1.9174. In case the lower border is broken, the instrument is likely to follow the downward trend.

The Double Bottom pattern has been formed on GBPAUD M5; the upper boundary is 1.9173; the lower boundary is 1.9154. The width of the pattern is 20 points. In case of a break of the upper boundary 1.9173, 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.