FX.co ★ Actual patterns. Technical analysis and trading recommendations

The Bearish pennant pattern has formed on the GBPUSD M15 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 1.3338, a trader will be able to successfully enter the sell position.

According to the chart of M5, GBPUSD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.3376/1.3398 and upper border is 1.3418/1.3398. 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 1.3383.

According to the chart of M15, GBPUSD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 1.3362 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -34 pips.

According to the chart of M15, GBPUSD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 1.3372 – 1.3372 and upper border 1.3381 – 1.3381. In case the lower border is broken, the instrument is likely to follow the downward trend.

The Double Bottom pattern has been formed on GBPUSD M15; the upper boundary is 1.3381; the lower boundary is 1.3372. The width of the pattern is 8 points. In case of a break of the upper boundary 1.3381, 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 Triple Top pattern has formed on the chart of the GBPUSD M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 0, support level -4, and pattern’s width 13. Forecast If the price breaks through the support level 1.3380, it is likely to move further down to 1.3377.

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 1.3380 is broken, the downward movement will continue.

The Bearish Flag pattern has been formed on the chart GBPUSD M5 which signals that the downward trend will continue. If the price breaks below the low at 1.3429, then it is most likely to move further downwards. The price will likely move by the number of points which equals the length of the flag pole (10 points).

The Bearish pennant pattern has formed on the GBPUSD M5 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 1.3429, a trader will be able to successfully enter the sell position.

According to the chart of M5, GBPUSD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.3423/1.3432 and upper border is 1.3441/1.3432. The pattern width is measured on the chart at -18 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 1.3417.