FX.co ★ Patterns GBPUSD | British Pound (GBP) to US Dollar (USD) Rate in the Forex market

The Double Bottom pattern has been formed on GBPUSD M15. Characteristics: the support level 1.3233; the resistance level 1.3248; the width of the pattern 15 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 16 points.

The Double Bottom pattern has been formed on GBPUSD M5; the upper boundary is 1.3266; the lower boundary is 1.3239. The width of the pattern is 28 points. In case of a break of the upper boundary 1.3266, 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 Top pattern has formed on the chart of the GBPUSD M15. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 1.3212/1.3227 with the upper limit 1.3239/1.3236; the projection of the width is 27 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 1.3212, the price is most likely to continue the downward movement.

According to the chart of M15, GBPUSD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.3416/1.3427 whereas the upper border goes across 1.3442/1.3427. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of GBPUSD will breach the upper border to head for 1.3449.

According to the chart of M5, GBPUSD formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 1.3417, the lower border is 1.3405. The signal means that a short position should be opened after fixing a price below the lower border 1.3405 of the Bearish Rectangle.

The Double Bottom pattern has been formed on GBPUSD M15. 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 1.3400 is broken. The further movements will rely on the width of the current pattern 10 points.

The technical pattern called Head and Shoulders has appeared on the chart of GBPUSD H1. There are weighty reasons to suggest that the price will surpass the Neckline 1.3399/1.3414 after the right shoulder has been formed. So, the trend is set to change with the price heading for 1.3374.

On the chart of GBPUSD M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.3457; the lower boundary 1.3430; the width of the pattern 27 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.3400 level.

The Double Top reversal pattern has been formed on GBPUSD M15. Characteristics: the upper boundary 1.3457; the lower boundary 1.3430; the width of the pattern is 27 points. Sell trades are better to be opened below the lower boundary 1.3430 with a possible movements towards the 1.3407 level.

The Double Top reversal pattern has been formed on GBPUSD M5. Characteristics: the upper boundary 1.3416; the lower boundary 1.3409; the width of the pattern is 7 points. Sell trades are better to be opened below the lower boundary 1.3409 with a possible movements towards the 1.3394 level.