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

The Triple Top pattern has formed on the chart of the EURGBP M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -1, support level -1, and pattern’s width 5. Forecast If the price breaks through the support level 0.8626, it is likely to move further down to 0.8616.

The Double Top reversal pattern has been formed on EURGBP M5. Characteristics: the upper boundary 0.8631; the lower boundary 0.8626; the width of the pattern is 5 points. Sell trades are better to be opened below the lower boundary 0.8626 with a possible movements towards the 0.8611 level.

According to the chart of M5, EURGBP formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.8661/0.8667 and upper border is 0.8675/0.8667. The pattern width is measured on the chart at -14 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 EURGBP breaches the lower border, the price could continue its move toward 0.8652.

The Double Bottom pattern has been formed on EURGBP D1; the upper boundary is 0.8788; the lower boundary is 0.8616. The width of the pattern is 177 points. In case of a break of the upper boundary 0.8788, 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 EURGBP M5. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 0.8672 is broken. The further movements will rely on the width of the current pattern 5 points.

According to the chart of H1, EURGBP formed the Inverse Head and Shoulder pattern. The Head’s top is set at 0.8677 while the median line of the Neck is found at 0.8652/0.8666. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of EURGBP will go towards 0.8717

According to the chart of M15, EURGBP formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.8677 and support 0.8670. In case the resistance level 0.8677 - 0.8677 is broken, the instrument is likely to follow the bullish trend.

According to the chart of M15, EURGBP formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 0.8677 and 0.8670 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 0.8677 is broken, the price is likely to continue its move by 0.8695.

According to M5, EURGBP is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 0.8693/0.8691 is broken out, the instrument is likely to move toward 0.8706.

The Double Bottom pattern has been formed on EURGBP D1; the upper boundary is 0.8788; the lower boundary is 0.8616. The width of the pattern is 177 points. In case of a break of the upper boundary 0.8788, 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.