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

According to the chart of M30, GBPUSD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.2680/1.2711 and upper border is 1.2756/1.2711. The pattern width is measured on the chart at -76 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 1.2681.

According to the chart of M15, GBPUSD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.2680/1.2711 and upper border is 1.2755/1.2711. The pattern width is measured on the chart at -75 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 1.2688.

According to the chart of M5, GBPUSD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 1.2714 – 1.2714 and upper border 1.2723 – 1.2723. In case the lower border is broken, the instrument is likely to follow the downward trend.

The Double Bottom pattern has been formed on GBPUSD M15; the upper boundary is 1.2723; the lower boundary is 1.2715. The width of the pattern is 9 points. In case of a break of the upper boundary 1.2723, 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 M5, GBPUSD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.2732 - 0.0000 and support 1.2724 – 1.2724. In case the resistance level 1.2724 - 1.2724 is broken, the instrument is likely to follow the bearish trend.

The Double Bottom pattern has been formed on GBPUSD M15. 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 1.2701 is broken. The further movements will rely on the width of the current pattern 12 points.

The Double Bottom pattern has been formed on GBPUSD M5. Characteristics: the support level 1.2698; the resistance level 1.2703; the width of the pattern 5 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 5 points.

According to the chart of M5, GBPUSD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 1.2704 – 1.2704 and upper border 1.2717 – 1.2717. In case the lower border is broken, the instrument is likely to follow the downward trend.

The Double Bottom pattern has been formed on GBPUSD 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 1.2717 is broken. The further movements will rely on the width of the current pattern 12 points.

According to the chart of M15, GBPUSD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 1.2750 and 1.2728 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 22 pips. Outlook: If the upper border 1.2750 is broken, the price is likely to continue its move by 1.2761.