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

According to the chart of H1, EURGBP formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.8545/0.8563 and upper border is 0.8577/0.8563. The pattern width is measured on the chart at -32 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and EURGBP breaches the lower border, the price could continue its move toward 0.8523.

According to the chart of M30, EURGBP formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.8545 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -33 pips.

According to the chart of M15, EURGBP formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.8545 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -32 pips.

The Triple Bottom pattern has been formed on EURGBP M15. It has the following characteristics: resistance level 0.8571/0.8567; support level 0.8565/0.8565; the width is 6 points. In the event of a breakdown of the resistance level of 0.8571, the price is likely to continue an upward movement at least to 0.8586.

The Bearish pennant pattern has formed on the EURGBP M5 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 0.8599, a trader will be able to successfully enter the sell position.

The Double Bottom pattern has been formed on EURGBP M30. 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 0.8613 is broken. The further movements will rely on the width of the current pattern 8 points.

According to the chart of M5, EURGBP formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.8628 - 0.0000 and support 0.8618 – 0.8618. In case the resistance level 0.8618 - 0.8618 is broken, the instrument is likely to follow the bearish trend.

According to the chart of M15, EURGBP formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 0.8618 – 0.8618 and upper border 0.8628 – 0.8628. In case the lower border is broken, the instrument is likely to follow the downward trend.

According to the chart of M30, EURGBP formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.8602 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -27 pips.

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.