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

The Double Top pattern has been formed on GBPUSD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.3369 is broken, the downward movement will continue.

The Double Top pattern has been formed on GBPUSD H1. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.3429 is broken, the downward movement will continue.

According to the chart of M5, GBPUSD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.3423/1.3453 whereas the upper border goes across 1.3482/1.3453. 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 1.3468.

The technical pattern called Head and Shoulders has appeared on the chart of GBPUSD M5. There are weighty reasons to suggest that the price will surpass the Neckline 1.3446/1.3446 after the right shoulder has been formed. So, the trend is set to change with the price heading for 1.3431.

According to the chart of M5, GBPUSD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.3417/1.3429 and upper border is 1.3445/1.3429. The pattern width is measured on the chart at -28 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 GBPUSD breaches the lower border, the price could continue its move toward 1.3414.

The Double Top pattern has been formed on GBPUSD M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.3417 is broken, the downward movement will continue.

The Triple Top pattern has formed on the chart of the GBPUSD M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 1.3423/1.3434 with the upper limit 1.3444/1.3443; the projection of the width is 21 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 1.3423, the price is most likely to continue the downward movement.

The Bearish pennant pattern has formed on the GBPUSD M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 1.3313; the projection of the flagpole height is equal to 100 pips. In case the price breaks out the pattern’s bottom of 1.3313, the downtrend is expected to continue for further level 1.3298.

The Double Bottom pattern has been formed on GBPUSD M5; the upper boundary is 1.3395; the lower boundary is 1.3377. The width of the pattern is 18 points. In case of a break of the upper boundary 1.3395, 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.

According to the chart of M5, GBPUSD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 1.3305 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -90 pips.