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

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 1.3316 – 1.3316 and upper border 1.3349 – 1.3349. In case the lower border is broken, the instrument is likely to follow the downward trend.

According to the chart of M30, GBPUSD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 1.3316 – 1.3316 and upper border 1.3349 – 1.3349. 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 M30; the upper boundary is 1.3349; the lower boundary is 1.3317. The width of the pattern is 33 points. In case of a break of the upper boundary 1.3349, 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 Double Bottom pattern has been formed on GBPUSD M15; the upper boundary is 1.3349; the lower boundary is 1.3317. The width of the pattern is 33 points. In case of a break of the upper boundary 1.3349, 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 Bottom pattern has formed on the chart of GBPUSD M5. Features of the pattern: The lower line of the pattern has coordinates 1.3355 with the upper limit 1.3355/1.3342, the projection of the width is 16 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 1.3339, the price is most likely to continue the upward movement.

The Bearish Flag pattern has been formed on the chart GBPUSD M15. Therefore, the downwards trend is likely to continue in the nearest term. As soon as the price breaks below the low at 1.3328, traders should enter the market.

The Bearish pennant pattern has formed on the GBPUSD M15 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 1.3328 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.

The Double Top reversal pattern has been formed on GBPUSD M5. Characteristics: the upper boundary 1.3441; the lower boundary 1.3433; the width of the pattern is 8 points. Sell trades are better to be opened below the lower boundary 1.3433 with a possible movements towards the 1.3418 level.

According to the chart of M5, GBPUSD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.3453/1.3468 whereas the upper border goes across 1.3480/1.3468. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of GBPUSD will breach the upper border to head for 1.3483.

The Double Bottom pattern has been formed on GBPUSD M5; the upper boundary is 1.3480; the lower boundary is 1.3459. The width of the pattern is 20 points. In case of a break of the upper boundary 1.3480, 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.