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

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 1.3418 is broken. The further movements will rely on the width of the current pattern 9 points.

On the chart of GBPUSD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.3447; the lower boundary 1.3435; the width of the pattern 12 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.3412 level.

The Double Top reversal pattern has been formed on GBPUSD M15. Characteristics: the upper boundary 1.3447; the lower boundary 1.3439; the width of the pattern is 7 points. Sell trades are better to be opened below the lower boundary 1.3439 with a possible movements towards the 1.3417 level.

The Triple Top pattern has formed on the chart of the GBPUSD M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 1.3424/1.3439 with the upper limit 1.3450/1.3446; the projection of the width is 26 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 1.3424, the price is most likely to continue the downward movement.

According to the chart of M5, GBPUSD formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 1.3439 – 1.3439 and upper border 1.3447 – 1.3447. In case the upper border is broken, the instrument is likely to follow the upward trend.

According to H1, GBPUSD is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 1.3432/1.3410 is broken out, the instrument is likely to move toward 1.3450.

According to the chart of M5, GBPUSD formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 1.3432, the lower border is 1.3415. The signal means that a short position should be opened after fixing a price below the lower border 1.3415 of the Bearish Rectangle.

The Double Bottom pattern has been formed on GBPUSD M5; the upper boundary is 1.3430; the lower boundary is 1.3416. The width of the pattern is 15 points. In case of a break of the upper boundary 1.3430, 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.

The Double Bottom pattern has been formed on GBPUSD M5; the upper boundary is 1.3451; the lower boundary is 1.3441. The width of the pattern is 11 points. In case of a break of the upper boundary 1.3451, 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.

The Bullish pennant signal – Trading instrument GBPUSD H1, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 1.3489, with the prospect of the next move being a projection of the flagpole height.