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

The Bullish Flag pattern which signals continuation of a trend has been formed on the chart GBPUSD M5. Forecast: if the price breaks above the pattern high at 1.3415, then traders will be able to place a long deal with the target at 1.3430.

The Bullish pennant signal – Trading instrument GBPUSD M5, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 1.3415, with the prospect of the next move being a projection of the flagpole height.

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.