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 1.3437, the Neckline and the upward angle are at 1.3354/1.3381. 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 1.3341.

The GBPUSD M30 formed the Head and Shoulders pattern with the following features: The Head’s top is at 1.3437, the Neckline and the upward angle are at 1.3354/1.3381. 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 1.3351.

According to the chart of M5, GBPUSD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.3395 - 0.0000 and support 1.3381 – 1.3381. In case the resistance level 1.3381 - 1.3381 is broken, the instrument is likely to follow the bearish trend.

The Double Top reversal pattern has been formed on GBPUSD M5. Characteristics: the upper boundary 1.3392; the lower boundary 1.3382; the width of the pattern is 9 points. Sell trades are better to be opened below the lower boundary 1.3382 with a possible movements towards the 1.3367 level.

The GBPUSD M15 formed the Head and Shoulders pattern with the following features: The Head’s top is at 1.3391, the Neckline and the upward angle are at 1.3375/1.3375. 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 1.3353.

On the chart of GBPUSD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.3386; the lower boundary 1.3374; the width of the pattern 12 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.3359 level.

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.