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

The Double Bottom pattern has been formed on GBPAUD 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 1.9021 is broken. The further movements will rely on the width of the current pattern 9 points.

The Double Top reversal pattern has been formed on GBPAUD M15. Characteristics: the upper boundary 1.9089; the lower boundary 1.9010; the width of the pattern is 76 points. Sell trades are better to be opened below the lower boundary 1.9010 with a possible movements towards the 1.8987 level.

The Triple Bottom pattern has been formed on GBPAUD M30. It has the following characteristics: resistance level 1.8982/1.8979; support level 1.8954/1.8956; the width is 28 points. In the event of a breakdown of the resistance level of 1.8982, the price is likely to continue an upward movement at least to 1.8977.

The Triple Bottom pattern has formed on the chart of the GBPAUD M15 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 1.8982/1.8979.

According to the chart of M5, GBPAUD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.8947/1.8961 and upper border is 1.8980/1.8961. The pattern width is measured on the chart at -33 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 1.8946.

According to the chart of M5, GBPAUD formed the Head and Shoulders pattern. The Head’s top is set at 1.9075 while the median line of the Neck is found at 1.9049/1.9051. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of GBPAUD will go towards 1.9036.

According to the chart of M15, GBPAUD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.9005/1.9023 and upper border is 1.9049/1.9023. The pattern width is measured on the chart at -44 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 1.9001.

According to the chart of H1, GBPAUD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.9166 - 0.0000 and support 1.9124 – 1.9124. In case the resistance level 1.9124 - 1.9124 is broken, the instrument is likely to follow the bearish trend.

According to the chart of M30, GBPAUD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.9166 - 0.0000 and support 1.9125 – 1.9125. In case the resistance level 1.9125 - 1.9125 is broken, the instrument is likely to follow the bearish trend.

According to the chart of M5, GBPAUD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.9212 - 0.0000 and support 1.9186 – 1.9186. In case the resistance level 1.9186 - 1.9186 is broken, the instrument is likely to follow the bearish trend.