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

The technical pattern called Head and Shoulders has appeared on the chart of EURGBP M15. There are weighty reasons to suggest that the price will surpass the Neckline 0.8564/0.8565 after the right shoulder has been formed. So, the trend is set to change with the price heading for 0.8543.

The Double Top reversal pattern has been formed on EURGBP M5. Characteristics: the upper boundary 0.8569; the lower boundary 0.8565; the width of the pattern is 4 points. Sell trades are better to be opened below the lower boundary 0.8565 with a possible movements towards the 0.8550 level.

The Triple Top pattern has formed on the chart of the EURGBP H1. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 0.8541/0.8547 with the upper limit 0.8558/0.8556; the projection of the width is 17 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 0.8541, the price is most likely to continue the downward movement.

The Triple Top pattern has formed on the chart of the EURGBP M30. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 0.8541/0.8547 with the upper limit 0.8558/0.8556; the projection of the width is 17 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 0.8541, the price is most likely to continue the downward movement.

The Bullish pennant pattern is formed on the EURGBP M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 0.8543, a further uptrend is possible.

According to the chart of H1, EURGBP formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.8468 is likely to encourage a continuation of the downward trend.

The Double Bottom pattern has been formed on EURGBP M5; the upper boundary is 0.8488; the lower boundary is 0.8485. The width of the pattern is 3 points. In case of a break of the upper boundary 0.8488, 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.

According to the chart of M5, EURGBP formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 0.8513/0.8507 whereas the lower border goes across 0.8502/0.8507. The pattern width is measured on the chart at 11 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 0.8507 is broken, the price could continue its move toward 0.8522.

The Triple Top pattern has formed on the chart of the EURGBP M15 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 2, support level -3, and pattern’s width 10. Forecast If the price breaks through the support level 0.8533, it is likely to move further down to 0.8519.

The Double Top reversal pattern has been formed on EURGBP M15. Characteristics: the upper boundary 0.8543; the lower boundary 0.8533; the width of the pattern is 9 points. Sell trades are better to be opened below the lower boundary 0.8533 with a possible movements towards the 0.8511 level.