FX.co ★ Patterns GBPUSD | British Pound (GBP) to US Dollar (USD) Rate in the Forex market

On the chart of the GBPUSD M15 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 1.3380, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 27 points.

According to the chart of M15, GBPUSD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 1.3409, the lower border is 1.3380. The signal means that a long position should be opened above the upper border 1.3409 of the Bullish Rectangle.

The Double Top pattern has been formed on GBPUSD M30. 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.

According to the chart of M5, GBPUSD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.3407 and support 1.3380. In case the resistance level 1.3407 - 1.3407 is broken, the instrument is likely to follow the bullish trend.

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.