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

On the chart of the GBPAUD M30 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 1.9051, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 63 points.

The Triple Top pattern has formed on the chart of the GBPAUD M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 1.9094/1.9104 with the upper limit 1.9114/1.9111; the projection of the width is 20 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 1.9094, the price is most likely to continue the downward movement.

The Double Bottom pattern has been formed on GBPAUD M15; the upper boundary is 1.9057; the lower boundary is 1.9015. The width of the pattern is 43 points. In case of a break of the upper boundary 1.9057, 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.

The Double Bottom pattern has been formed on GBPAUD H1; the upper boundary is 1.9150; the lower boundary is 1.9045. The width of the pattern is 102 points. In case of a break of the upper boundary 1.9150, 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.

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 1.9062 is broken. The further movements will rely on the width of the current pattern 14 points.

The Triple Bottom pattern has formed on the chart of GBPAUD M30. Features of the pattern: The lower line of the pattern has coordinates 1.9131 with the upper limit 1.9131/1.9129, the projection of the width is 52 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 1.9079, the price is most likely to continue the upward movement.

According to the chart of M30, GBPAUD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 1.9079 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -53 pips.

The Double Bottom pattern has been formed on GBPAUD M30. 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 1.9131 is broken. The further movements will rely on the width of the current pattern 52 points.

The Double Bottom pattern has been formed on GBPAUD M15; the upper boundary is 1.9131; the lower boundary is 1.9081. The width of the pattern is 52 points. In case of a break of the upper boundary 1.9131, 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, GBPAUD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 1.9128 while the median line of the Neck is set at 1.9165/1.9162. 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 GBPAUD will go towards 1.9177.