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FX.co ★ GBPAUD M5: Bearish Symmetrical Triangle

GBPAUD M5: Bearish Symmetrical Triangle

Bearish Symmetrical TriangleAccording to the chart of M5, GBPAUD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.7889/0.0000 and upper border is 1.7875/0.0000. The pattern width is measured on the chart at 14 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.
The M5 and M15 time frames may have more false entry points.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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