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 Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.3471/1.3489 whereas the upper border goes across 1.3513/1.3489. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of GBPUSD will breach the upper border to head for 1.3504.

On the chart of GBPUSD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.3513; the lower boundary 1.3490; the width of the pattern 23 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.3475 level.

The Double Bottom pattern has been formed on GBPUSD H1. Characteristics: the support level 1.3434; the resistance level 1.3466; the width of the pattern 32 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 31 points.

The Double Bottom pattern has been formed on GBPUSD M5. Characteristics: the support level 1.3436; the resistance level 1.3466; the width of the pattern 30 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 31 points.

The Double Bottom pattern has been formed on GBPUSD H1; the upper boundary is 1.3473; the lower boundary is 1.3434. The width of the pattern is 40 points. In case of a break of the upper boundary 1.3473, 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 M30, GBPUSD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.3473 - 0.0000 and support 1.3433 – 1.3433. In case the resistance level 1.3433 - 1.3433 is broken, the instrument is likely to follow the bearish trend.

According to the chart of M15, GBPUSD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.3473 - 0.0000 and support 1.3433 – 1.3433. In case the resistance level 1.3433 - 1.3433 is broken, the instrument is likely to follow the bearish trend.

According to the chart of M15, GBPUSD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 1.3433 is likely to encourage a continuation of the downward trend.

According to the chart of M5, GBPUSD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.3433/1.3452 and upper border is 1.3475/1.3452. The pattern width is measured on the chart at -42 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 1.3437.

The Bearish Flag pattern has been formed on GBPUSD at M5. The lower boundary of the pattern is located at 1.3482/1.3490 while the upper boundary lies at 1.3488/1.3496. The projection of the flagpole is 24 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 1.3482 is broken, the price will move further downwards.