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

According to the chart of M5, GBPUSD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 1.3337 and 1.3302 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 35 pips. Outlook: If the upper border 1.3337 is broken, the price is likely to continue its move by 1.3337.

According to the chart of M15, GBPUSD formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 1.3328, the lower border is 1.3313. The signal means that a short position should be opened after fixing a price below the lower border 1.3313 of the Bearish Rectangle.

According to the chart of M5, GBPUSD formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 1.3335 – 1.3335 and upper border 1.3341 – 1.3341. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Double Top reversal pattern has been formed on GBPUSD M5. Characteristics: the upper boundary 1.3357; the lower boundary 1.3338; the width of the pattern is 20 points. Sell trades are better to be opened below the lower boundary 1.3338 with a possible movements towards the 1.3323 level.

The Double Bottom pattern has been formed on GBPUSD M30; the upper boundary is 1.3383; the lower boundary is 1.3319. The width of the pattern is 62 points. In case of a break of the upper boundary 1.3383, 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 M15, GBPUSD formed the Head and Shoulders pattern. The Head’s top is set at 1.3383 while the median line of the Neck is found at 1.3321/1.3335. 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 1.3312.

The Bullish Flag pattern has been formed on GBPUSD at M5. The lower boundary of the pattern is located at 1.3349/1.3339, while the higher boundary lies at 1.3361/1.3351. The projection of the flagpole is 28 points. This formation signals that the upward trend is most likely to continue. Therefore, if the level of 1.3361 is broken, the price will move further upwards.

The Bullish pennant graphic pattern has formed on the GBPUSD M5 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 1.3376.

According to the chart of M5, GBPUSD formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 1.3352/1.3335 whereas the lower border goes across 1.3315/1.3335. The pattern width is measured on the chart at 37 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 1.3335 is broken, the price could continue its move toward 1.3350.

The Double Top pattern has been formed on GBPUSD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.3327 is broken, the downward movement will continue.