FX.co ★ Patterns EURGBP | Euro (EUR) to British Pound (GBP) Rate in the Forex market

The Double Bottom pattern has been formed on EURGBP M15. Characteristics: the support level 0.8629; the resistance level 0.8639; the width of the pattern 10 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 10 points.

The Double Bottom pattern has been formed on EURGBP M5. Characteristics: the support level 0.8629; the resistance level 0.8639; the width of the pattern 10 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 10 points.

According to M5, EURGBP is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 0.8641/0.8642 is broken out, the instrument is likely to move toward 0.8657.

According to the chart of M30, EURGBP formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.8666 - 0.0000 and support 0.8655 – 0.8655. In case the resistance level 0.8655 - 0.8655 is broken, the instrument is likely to follow the bearish trend.

The Triple Bottom pattern has been formed on EURGBP M15. It has the following characteristics: resistance level 0.8663/0.8661; support level 0.8655/0.8656; the width is 8 points. In the event of a breakdown of the resistance level of 0.8663, the price is likely to continue an upward movement at least to 0.8679.

The Double Bottom pattern has been formed on EURGBP D1. 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 0.8788 is broken. The further movements will rely on the width of the current pattern 177 points.

The Double Bottom pattern has been formed on EURGBP D1; the upper boundary is 0.8788; the lower boundary is 0.8616. The width of the pattern is 177 points. In case of a break of the upper boundary 0.8788, 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.

The Double Bottom pattern has been formed on EURGBP D1. 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 0.8788 is broken. The further movements will rely on the width of the current pattern 177 points.

The Bearish Flag pattern has been formed on EURGBP at M5. The lower boundary of the pattern is located at 0.8702/0.8708 while the upper boundary lies at 0.8708/0.8714. The projection of the flagpole is 12 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 0.8702 is broken, the price will move further downwards.

According to the chart of H1, EURGBP formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 0.8696 and 0.8634 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 62 pips. Outlook: If the upper border 0.8696 is broken, the price is likely to continue its move by 0.8699.