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

According to the chart of M30, GBPUSD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 1.3679, the lower border is 1.3642. The signal means that a long position should be opened above the upper border 1.3679 of the Bullish Rectangle.

The Bearish Flag pattern has been formed on the chart GBPUSD M5. Therefore, the downwards trend is likely to continue in the nearest term. As soon as the price breaks below the low at 1.3640, traders should enter the market.

The Bearish pennant pattern has formed on the GBPUSD M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 1.3640 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.

On the chart of the GBPUSD 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 1.3642, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 37 points.

The Triple Top pattern has formed on the chart of the GBPUSD M15. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 1.3642/1.3652 with the upper limit 1.3679/1.3668; the projection of the width is 37 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 1.3642, the price is most likely to continue the downward movement.

The Double Top pattern has been formed on GBPUSD M30. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.3642 is broken, the downward movement will continue.

The Bullish pennant graphic pattern has formed on the GBPUSD M15 instrument. This pattern type falls under the category of continuation patterns. In this case, if the quote can breaks out high, is expected to continue the upward trend to level 1.3687.

The Bullish pennant pattern is formed on the GBPUSD M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 1.3664, a further uptrend is possible.

The Double Top pattern has been formed on GBPUSD M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.3513 is broken, the downward movement will continue.

The Double Top reversal pattern has been formed on GBPUSD H1. Characteristics: the upper boundary 1.3507; the lower boundary 1.3482; the width of the pattern is 27 points. Sell trades are better to be opened below the lower boundary 1.3482 with a possible movements towards the 1.3442 level.