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

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 1.3423 is broken. The further movements will rely on the width of the current pattern 10 points.

The Triple Bottom pattern has formed on the chart of the GBPUSD M5 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 1.3444/1.3435.

According to the chart of M15, GBPUSD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.3429 and support 1.3403. In case the resistance level 1.3429 - 1.3429 is broken, the instrument is likely to follow the bullish trend.

The Double Top reversal pattern has been formed on GBPUSD M5. Characteristics: the upper boundary 1.3429; the lower boundary 1.3406; the width of the pattern is 22 points. Sell trades are better to be opened below the lower boundary 1.3406 with a possible movements towards the 1.3391 level.

According to the chart of M5, GBPUSD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 1.3258 and 1.3245 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 13 pips. Outlook: If the upper border 1.3258 is broken, the price is likely to continue its move by 1.3266.

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 1.3204/1.3213 with the upper limit 1.3217/1.3218; the projection of the width is 13 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 1.3204, the price is most likely to continue the downward movement.

The Double Bottom pattern has been formed on GBPUSD H1; the upper boundary is 1.3250; the lower boundary is 1.3178. The width of the pattern is 70 points. In case of a break of the upper boundary 1.3250, 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 M15, GBPUSD is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 1.3193/1.3199 is broken out, the instrument is likely to move toward 1.3221.

The Bearish Flag pattern has been formed on GBPUSD at M5. The lower boundary of the pattern is located at 1.3194/1.3202 while the upper boundary lies at 1.3202/1.3210. The projection of the flagpole is 24 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 1.3194 is broken, the price will move further downwards.

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 1.3194 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.