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

The Double Bottom pattern has been formed on GBPAUD M5. Characteristics: the support level 1.8797; the resistance level 1.8814; the width of the pattern 17 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 16 points.

The Double Bottom pattern has been formed on GBPAUD M5; the upper boundary is 1.8841; the lower boundary is 1.8831. The width of the pattern is 11 points. In case of a break of the upper boundary 1.8841, 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.

On the chart of GBPAUD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.8842; the lower boundary 1.8818; the width of the pattern 24 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.8803 level.

The Bearish pennant pattern has formed on the GBPAUD M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 1.8787; the projection of the flagpole height is equal to 14 pips. In case the price breaks out the pattern’s bottom of 1.8787, the downtrend is expected to continue for further level 1.8772.

According to the chart of M5, GBPAUD formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 1.8834, the lower border is 1.8817. The signal means that a short position should be opened after fixing a price below the lower border 1.8817 of the Bearish Rectangle.

On the chart of GBPAUD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.8786; the lower boundary 1.8778; the width of the pattern 8 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.8763 level.

According to the chart of M5, GBPAUD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.8840/1.8856 and upper border is 1.8870/1.8856. The pattern width is measured on the chart at -30 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 1.8841.

According to the chart of M5, GBPAUD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.8836/1.8854 whereas the upper border goes across 1.8875/1.8854. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of GBPAUD will breach the upper border to head for 1.8869.

The Double Bottom pattern has been formed on GBPAUD M5. 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 1.8875 is broken. The further movements will rely on the width of the current pattern 36 points.

According to the chart of M5, GBPAUD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 1.8850 and 1.8839 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 11 pips. Outlook: If the upper border 1.8850 is broken, the price is likely to continue its move by 1.8859.