FX.co ★ Patterns GBPUSD | British Pound (GBP) to US Dollar (USD) Rate in the Forex market

The GBPUSD H1 formed the Head and Shoulders pattern with the following features: The Head’s top is at 1.3450, the Neckline and the upward angle are at 1.3398/1.3407. 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 1.3367.

According to the chart of M30, GBPUSD formed the Head and Shoulders pattern. The Head’s top is set at 1.3450 while the median line of the Neck is found at 1.3398/1.3407. 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 GBPUSD will go towards 1.3377.

The Double Top reversal pattern has been formed on GBPUSD M5. Characteristics: the upper boundary 1.3356; the lower boundary 1.3328; the width of the pattern is 27 points. Sell trades are better to be opened below the lower boundary 1.3328 with a possible movements towards the 1.3313 level.

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 1.3354 is broken. The further movements will rely on the width of the current pattern 12 points.

The Triple Bottom pattern has been formed on GBPUSD M5. It has the following characteristics: resistance level 1.3362/1.3353; support level 1.3348/1.3349; the width is 14 points. In the event of a breakdown of the resistance level of 1.3362, the price is likely to continue an upward movement at least to 1.3364.

The GBPUSD M30 formed the Head and Shoulders pattern with the following features: The Head’s top is at 1.3400, the Neckline and the upward angle are at 1.3382/1.3374. 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 1.3344.

According to the chart of H1, GBPUSD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.3383 and support 1.3327. In case the resistance level 1.3383 - 1.3383 is broken, the instrument is likely to follow the bullish trend.

According to the chart of H1, GBPUSD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.3383 and support 1.3327. In case the resistance level 1.3383 - 1.3383 is broken, the instrument is likely to follow the bullish trend.

The Triple Top pattern has formed on the chart of the GBPUSD M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 1.3353/1.3361 with the upper limit 1.3362/1.3364; the projection of the width is 9 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 1.3353, the price is most likely to continue the downward movement.

According to the chart of M5, GBPUSD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.3352/1.3369 whereas the upper border goes across 1.3383/1.3369. 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 GBPUSD will breach the upper border to head for 1.3384.