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

According to the chart of M30, EURGBP formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.8563 is likely to encourage a continuation of the downward trend.

According to the chart of M15, EURGBP formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.8563 is likely to encourage a continuation of the downward trend.

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 0.8628 is broken. The further movements will rely on the width of the current pattern 7 points.

On the chart of EURGBP M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8643; the lower boundary 0.8631; the width of the pattern 12 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8608 level.

The Bullish Flag pattern has been formed on EURGBP at M15. The lower boundary of the pattern is located at 0.8634/0.8620, while the higher boundary lies at 0.8648/0.8634. The projection of the flagpole is 24 points. This formation signals that the upward trend is most likely to continue. Therefore, if the level of 0.8648 is broken, the price will move further upwards.

The Bullish pennant pattern is formed on the EURGBP M15 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 0.8648, a further uptrend is possible.

On the chart of the EURGBP M15 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 0.8604, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 7 points.

According to the chart of M5, EURGBP formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 0.8564 and 0.8547 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 17 pips. Outlook: If the upper border 0.8564 is broken, the price is likely to continue its move by 0.8572.

On the chart of EURGBP M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8570; the lower boundary 0.8560; the width of the pattern 10 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8530 level.

According to the chart of M5, EURGBP formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.8532 is likely to encourage a continuation of the downward trend.