FX.co ★ Actual patterns. Technical analysis and trading recommendations

According to the chart of M5, EURGBP formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.8432 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -15 pips.

On the chart of the EURGBP M30 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 0.8412, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 16 points.

According to the chart of M5, EURGBP formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.8407 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -8 pips.

The Bullish Flag pattern has been formed on the chart EURGBP M15 which signals that the upward trend will continue. Signals: а break of the peak at 0.8425 may push the price higher, and the rise will be the projection of the pole.

The Bullish pennant pattern is formed on the EURGBP M15 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 0.8425, a further uptrend is possible.

On the chart of EURGBP M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8422; the lower boundary 0.8415; the width of the pattern 7 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8400 level.

The Triple Bottom pattern has formed on the chart of EURGBP M30. Features of the pattern: The lower line of the pattern has coordinates 0.8426 with the upper limit 0.8426/0.8410, the projection of the width is 22 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 0.8404, the price is most likely to continue the upward movement.

The Double Bottom pattern has been formed on EURGBP M15. Characteristics: the support level 0.8419; the resistance level 0.8429; the width of the pattern 10 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 11 points.

According to the chart of M5, EURGBP formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.8477 - 0.0000 and support 0.8469 – 0.8469. In case the resistance level 0.8469 - 0.8469 is broken, the instrument is likely to follow the bearish trend.

The Double Bottom pattern has been formed on EURGBP 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 0.8485 is broken. The further movements will rely on the width of the current pattern 14 points.