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

According to the chart of M5, EURGBP formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.8532 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -18 pips.

On the chart of EURGBP M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8577; the lower boundary 0.8563; the width of the pattern 14 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8548 level.

According to the chart of M5, EURGBP formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.8536 is likely to encourage a continuation of the downward trend.

According to M5, EURGBP is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 0.8594/0.8594 is broken out, the instrument is likely to move toward 0.8609.

The Bullish pennant graphic pattern has formed on the EURGBP M30 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 0.8637.

On the chart of EURGBP M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8576; the lower boundary 0.8569; the width of the pattern 7 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8554 level.

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 0.8574 - 0.0000 and support 0.8555 – 0.8555. In case the resistance level 0.8555 - 0.8555 is broken, the instrument is likely to follow the bearish trend.

According to the chart of M30, EURGBP formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.8615 and support 0.8598. In case the resistance level 0.8615 - 0.8615 is broken, the instrument is likely to follow the bullish trend.

The Double Top reversal pattern has been formed on EURGBP M5. Characteristics: the upper boundary 0.8572; the lower boundary 0.8562; the width of the pattern is 10 points. Sell trades are better to be opened below the lower boundary 0.8562 with a possible movements towards the 0.8547 level.

The Double Bottom pattern has been formed on EURGBP M5. 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 0.8562 is broken. The further movements will rely on the width of the current pattern 6 points.