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

According to the chart of M5, GBPUSD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.2871 and support 1.2852. In case the resistance level 1.2871 - 1.2871 is broken, the instrument is likely to follow the bullish trend.

The Double Top reversal pattern has been formed on GBPUSD M5. Characteristics: the upper boundary 1.2869; the lower boundary 1.2852; the width of the pattern is 19 points. Sell trades are better to be opened below the lower boundary 1.2852 with a possible movements towards the 1.2837 level.

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 1.2835 – 1.2835 and upper border 1.2853 – 1.2853. In case the upper border is broken, the instrument is likely to follow the upward trend.

According to the chart of M5, GBPUSD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 1.2798 and 1.2785 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 13 pips. Outlook: If the upper border 1.2798 is broken, the price is likely to continue its move by 1.2807.

The Double Bottom pattern has been formed on GBPUSD M5. Characteristics: the support level 1.2703; the resistance level 1.2752; the width of the pattern 49 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 49 points.

The Double Top reversal pattern has been formed on GBPUSD M5. Characteristics: the upper boundary 1.2723; the lower boundary 1.2713; the width of the pattern is 9 points. Sell trades are better to be opened below the lower boundary 1.2713 with a possible movements towards the 1.2698 level.

The Double Bottom pattern has been formed on GBPUSD M15; the upper boundary is 1.2708; the lower boundary is 1.2678. The width of the pattern is 29 points. In case of a break of the upper boundary 1.2708, 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.

According to the chart of M15, GBPUSD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 1.2716 and 1.2674 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 42 pips. Outlook: If the upper border 1.2716 is broken, the price is likely to continue its move by 1.2721.

According to the chart of M5, GBPUSD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 1.2687, the lower border is 1.2671. The signal means that a long position should be opened above the upper border 1.2687 of the Bullish Rectangle.

According to the chart of M30, GBPUSD formed the Inverse Head and Shoulder pattern. The Head’s top is set at 1.2612 while the median line of the Neck is found at 1.2558/1.2581. 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 1.2642