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

According to the chart of M15, EURGBP formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.8638/0.8644 and upper border is 0.8649/0.8644. The pattern width is measured on the chart at -11 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 0.8622.

The Triple Top pattern has formed on the chart of the EURGBP M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 0.8632/0.8644 with the upper limit 0.8648/0.8648; the projection of the width is 16 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 0.8632, the price is most likely to continue the downward movement.

The Double Bottom pattern has been formed on EURGBP M5. Characteristics: the support level 0.8632; the resistance level 0.8637; the width of the pattern 5 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 5 points.

According to the chart of M5, EURGBP formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 0.8638 and 0.8631 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 0.8638 is broken, the price is likely to continue its move by 0.8650.

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 0.8632 is broken. The further movements will rely on the width of the current pattern 4 points.

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.