FX.co ★ Patterns EURGBP | Euro (EUR) to British Pound (GBP) Rate in the Forex market

The Double Top pattern has been formed on EURGBP M30. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.8575 is broken, the downward movement will continue.

According to the chart of M5, EURGBP formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 0.8576 and 0.8569 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 7 pips. Outlook: If the upper border 0.8576 is broken, the price is likely to continue its move by 0.8588.

The Double Bottom pattern has been formed on EURGBP M5; the upper boundary is 0.8550; the lower boundary is 0.8545. The width of the pattern is 5 points. In case of a break of the upper boundary 0.8550, 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.

On the chart of EURGBP M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8557; the lower boundary 0.8548; the width of the pattern 9 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8526 level.

According to the chart of M5, EURGBP formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 0.8549 – 0.8549 and upper border 0.8557 – 0.8557. In case the upper border is broken, the instrument is likely to follow the upward trend.

On the chart of EURGBP M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8552; the lower boundary 0.8543; the width of the pattern 9 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8521 level.

According to the chart of M15, EURGBP formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 0.8553, the lower border is 0.8543. The signal means that a long position should be opened above the upper border 0.8553 of the Bullish Rectangle.

According to M15, EURGBP is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 0.8557/0.8556 is broken out, the instrument is likely to move toward 0.8579.

According to the chart of M30, EURGBP formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.8563 is likely to encourage a continuation of the downward trend.

According to the chart of M15, EURGBP formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.8563 is likely to encourage a continuation of the downward trend.