FX.co ★ Patterns GBPAUD | British Pound (GBP) to Australian Dollar (AUD) Rate in the Forex market

The Double Bottom pattern has been formed on GBPAUD M5. Characteristics: the support level 1.9104; the resistance level 1.9112; the width of the pattern 8 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 8 points.

The Double Top pattern has been formed on GBPAUD D1. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.9155 is broken, the downward movement will continue.

According to the chart of M30, GBPAUD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 1.9147 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -52 pips.

According to the chart of M5, GBPAUD formed the Inverse Head and Shoulder pattern. The Head’s top is set at 1.9190 while the median line of the Neck is found at 1.9147/1.9177. 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 GBPAUD will go towards 1.9205

The Double Top pattern has been formed on GBPAUD D1. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.9155 is broken, the downward movement will continue.

The Double Bottom pattern has been formed on GBPAUD M5; the upper boundary is 1.9221; the lower boundary is 1.9214. The width of the pattern is 8 points. In case of a break of the upper boundary 1.9221, 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 GBPAUD 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 1.9245 is broken. The further movements will rely on the width of the current pattern 10 points.

The Double Bottom pattern has been formed on GBPAUD M5. Characteristics: the support level 1.9240; the resistance level 1.9252; the width of the pattern 12 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 12 points.

The Triple Bottom pattern has formed on the chart of GBPAUD M5. Features of the pattern: The lower line of the pattern has coordinates 1.9255 with the upper limit 1.9255/1.9249, the projection of the width is 8 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 1.9247, the price is most likely to continue the upward movement.

According to the chart of M15, GBPAUD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.9242/1.9270 and upper border is 1.9306/1.9270. The pattern width is measured on the chart at -64 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 GBPAUD breaches the lower border, the price could continue its move toward 1.9247.