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

According to M5, GBPAUD is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 2.0108/2.0105 is broken out, the instrument is likely to move toward 2.0120.

The Double Bottom pattern has been formed on GBPAUD M5; the upper boundary is 2.0138; the lower boundary is 2.0125. The width of the pattern is 14 points. In case of a break of the upper boundary 2.0138, 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 been formed on GBPAUD M30. It has the following characteristics: resistance level 2.0220/2.0164; support level 2.0144/2.0137; the width is 76 points. In the event of a breakdown of the resistance level of 2.0220, the price is likely to continue an upward movement at least to 2.0172.

The Triple Bottom pattern has been formed on GBPAUD M5. It has the following characteristics: resistance level 2.0146/2.0145; support level 2.0139/2.0139; the width is 7 points. In the event of a breakdown of the resistance level of 2.0146, the price is likely to continue an upward movement at least to 2.0153.

According to the chart of M5, GBPAUD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 2.0146 - 0.0000 and support 2.0138 – 2.0138. In case the resistance level 2.0138 - 2.0138 is broken, the instrument is likely to follow the bearish trend.

The Triple Top pattern has formed on the chart of the GBPAUD M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 0, support level -1, and pattern’s width 9. Forecast If the price breaks through the support level 2.0154, it is likely to move further down to 2.0149.

The Double Bottom pattern has been formed on GBPAUD M30. Characteristics: the support level 2.0144; the resistance level 2.0220; the width of the pattern 76 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 78 points.

According to M5, GBPAUD is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 2.0172/2.0173 is broken out, the instrument is likely to move toward 2.0188.

The Double Top reversal pattern has been formed on GBPAUD M15. Characteristics: the upper boundary 2.0228; the lower boundary 2.0213; the width of the pattern is 13 points. Sell trades are better to be opened below the lower boundary 2.0213 with a possible movements towards the 2.0190 level.

According to the chart of M5, GBPAUD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 2.0228 and support 2.0217. In case the resistance level 2.0228 - 2.0228 is broken, the instrument is likely to follow the bullish trend.