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

The Triple Top pattern has formed on the chart of the GBPAUD M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 0, support level -1, and pattern’s width 9. Forecast If the price breaks through the support level 2.0154, it is likely to move further down to 2.0149.

The Double Bottom pattern has been formed on GBPAUD M30. Characteristics: the support level 2.0144; the resistance level 2.0220; the width of the pattern 76 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 78 points.

According to M5, GBPAUD is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 2.0172/2.0173 is broken out, the instrument is likely to move toward 2.0188.

The Double Top reversal pattern has been formed on GBPAUD M15. Characteristics: the upper boundary 2.0228; the lower boundary 2.0213; the width of the pattern is 13 points. Sell trades are better to be opened below the lower boundary 2.0213 with a possible movements towards the 2.0190 level.

According to the chart of M5, GBPAUD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 2.0228 and support 2.0217. In case the resistance level 2.0228 - 2.0228 is broken, the instrument is likely to follow the bullish trend.

The Bullish pennant pattern is formed on the GBPAUD M15 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 2.0229, a further uptrend is possible.

On the chart of the GBPAUD M5 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 2.0205, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 23 points.

The Triple Top pattern has formed on the chart of the GBPAUD M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 2.0151/2.0162 with the upper limit 2.0175/2.0183; the projection of the width is 24 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 2.0151, the price is most likely to continue the downward movement.

The Double Bottom pattern has been formed on GBPAUD M5. Characteristics: the support level 2.0099; the resistance level 2.0113; 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.

The Double Bottom pattern has been formed on GBPAUD M30. Characteristics: the support level 2.0098; the resistance level 2.0169; the width of the pattern 71 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 71 points.