FX.co ★ GBPUSD M5: Bearish Symmetrical Triangle

According to the chart of M5, GBPUSD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.2704/1.2716 and upper border is 1.2727/1.2716. The pattern width is measured on the chart at -23 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 1.2701.