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

According to the chart of M5, GBPUSD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.3622 and support 1.3611. In case the resistance level 1.3622 - 1.3622 is broken, the instrument is likely to follow the bullish trend.

The Double Top reversal pattern has been formed on GBPUSD M5. Characteristics: the upper boundary 1.3622; the lower boundary 1.3612; the width of the pattern is 10 points. Sell trades are better to be opened below the lower boundary 1.3612 with a possible movements towards the 1.3597 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 1.3593/1.3601 with the upper limit 1.3612/1.3614; the projection of the width is 19 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 1.3593, the price is most likely to continue the downward movement.

The Double Top pattern has been formed on GBPUSD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.3562 is broken, the downward movement will continue.

The Double Bottom pattern has been formed on GBPUSD M15. Characteristics: the support level 1.3642; the resistance level 1.3671; the width of the pattern 29 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 29 points.

The Double Bottom pattern has been formed on GBPUSD M5. Characteristics: the support level 1.3643; the resistance level 1.3656; the width of the pattern 13 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 14 points.

The Double Top reversal pattern has been formed on GBPUSD M15. Characteristics: the upper boundary 1.3705; the lower boundary 1.3692; the width of the pattern is 14 points. Sell trades are better to be opened below the lower boundary 1.3692 with a possible movements towards the 1.3670 level.

According to the chart of M5, GBPUSD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.3706 and support 1.3692. In case the resistance level 1.3706 - 1.3706 is broken, the instrument is likely to follow the bullish trend.

On the chart of GBPUSD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.3706; the lower boundary 1.3692; the width of the pattern 14 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.3677 level.

According to the chart of M5, GBPUSD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.3649/1.3669 and upper border is 1.3691/1.3669. The pattern width is measured on the chart at -42 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 1.3654.