FX.co ★ Patterns GBPAUD | British Pound (GBP) to Australian Dollar (AUD) Rate in the Forex market

The Double Bottom pattern has been formed on GBPAUD M5. Characteristics: the support level 1.9136; the resistance level 1.9151; the width of the pattern 15 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 16 points.

The Triple Top pattern has formed on the chart of the GBPAUD M15. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 1.9108/1.9136 with the upper limit 1.9148/1.9151; the projection of the width is 40 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 1.9108, the price is most likely to continue the downward movement.

The Double Bottom pattern has been formed on GBPAUD 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 1.9055 is broken. The further movements will rely on the width of the current pattern 21 points.

The Double Bottom pattern has been formed on GBPAUD 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 1.9055 is broken. The further movements will rely on the width of the current pattern 21 points.

According to the chart of M5, GBPAUD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.9034/1.9048 and upper border is 1.9059/1.9048. The pattern width is measured on the chart at -25 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 GBPAUD breaches the lower border, the price could continue its move toward 1.9033.

The Bearish Flag pattern has been formed on GBPAUD at M5. The lower boundary of the pattern is located at 1.9047/1.9059 while the upper boundary lies at 1.9063/1.9075. The projection of the flagpole is 27 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 1.9047 is broken, the price will move further downwards.

The Bearish pennant pattern has formed on the GBPAUD M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 1.9047; the projection of the flagpole height is equal to 27 pips. In case the price breaks out the pattern’s bottom of 1.9047, the downtrend is expected to continue for further level 1.9032.

The Double Top reversal pattern has been formed on GBPAUD M15. Characteristics: the upper boundary 1.9084; the lower boundary 1.9053; the width of the pattern is 32 points. Sell trades are better to be opened below the lower boundary 1.9053 with a possible movements towards the 1.9030 level.

On the chart of GBPAUD M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.9085; the lower boundary 1.9053; the width of the pattern 32 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.9023 level.

The Double Bottom pattern has been formed on GBPAUD M5. Characteristics: the support level 1.9014; the resistance level 1.9028; the width of the pattern 14 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 13 points.