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

On the chart of the GBPUSD M5 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 1.3299, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 6 points.

The Triple Bottom pattern has formed on the chart of GBPUSD M5. Features of the pattern: The lower line of the pattern has coordinates 1.3306 with the upper limit 1.3306/1.3298, the projection of the width is 14 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 1.3292, the price is most likely to continue the upward movement.

The Triple Bottom pattern has formed on the chart of the GBPUSD H1 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 1.3375/1.3331.

According to the chart of M5, GBPUSD formed the Inverse Head and Shoulder pattern. The Head’s top is set at 1.3320 while the median line of the Neck is found at 1.3307/1.3317. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of GBPUSD will go towards 1.3335

According to the chart of M30, GBPUSD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.3304/1.3343 and upper border is 1.3383/1.3343. The pattern width is measured on the chart at -79 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 GBPUSD breaches the lower border, the price could continue its move toward 1.3313.

According to the chart of M5, GBPUSD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 1.3356, the lower border is 1.3343. The signal means that a long position should be opened above the upper border 1.3356 of the Bullish Rectangle.

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 1.3343 is broken, the downward movement will continue.

The Double Bottom pattern has been formed on GBPUSD M5. Characteristics: the support level 1.3338; the resistance level 1.3346; the width of the pattern 8 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 8 points.

According to the chart of M5, GBPUSD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.3312/1.3320 and upper border is 1.3328/1.3320. The pattern width is measured on the chart at -16 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 GBPUSD breaches the lower border, the price could continue its move toward 1.3305.

The Bearish Flag pattern has been formed on the chart GBPUSD M15. Therefore, the downwards trend is likely to continue in the nearest term. As soon as the price breaks below the low at 1.3311, traders should enter the market.