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

The Double Top reversal pattern has been formed on GBPAUD M5. Characteristics: the upper boundary 1.8845; the lower boundary 1.8803; the width of the pattern is 44 points. Sell trades are better to be opened below the lower boundary 1.8803 with a possible movements towards the 1.8788 level.

The Triple Bottom pattern has been formed on GBPAUD M5. It has the following characteristics: resistance level 1.8841/1.8838; support level 1.8818/1.8815; the width is 23 points. In the event of a breakdown of the resistance level of 1.8841, the price is likely to continue an upward movement at least to 1.8833.

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 1.8841 - 0.0000 and support 1.8818 – 1.8818. In case the resistance level 1.8818 - 1.8818 is broken, the instrument is likely to follow the bearish trend.

The Double Bottom pattern has been formed on GBPAUD 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 1.8841 is broken. The further movements will rely on the width of the current pattern 23 points.

According to the chart of M5, GBPAUD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 1.8920 is likely to encourage a continuation of the downward trend.

The Triple Bottom pattern has formed on the chart of GBPAUD M30. Features of the pattern: The lower line of the pattern has coordinates 1.9029 with the upper limit 1.9029/1.9004, the projection of the width is 58 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 1.8971, the price is most likely to continue the upward movement.

According to the chart of M5, GBPAUD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 1.8973 while the median line of the Neck is set at 1.9024/1.9018. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of GBPAUD will go towards 1.9033.

The Triple Top pattern has formed on the chart of the GBPAUD H1 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -19, support level -81, and pattern’s width 127. Forecast If the price breaks through the support level 1.8965, it is likely to move further down to 1.9068.

The Triple Top pattern has formed on the chart of the GBPAUD M30. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 1.8965/1.9046 with the upper limit 1.9092/1.9111; the projection of the width is 127 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 1.8965, the price is most likely to continue the downward movement.

On the chart of GBPAUD M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.9111; the lower boundary 1.9046; the width of the pattern 65 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.9016 level.