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

The Double Bottom pattern has been formed on GBPAUD M15; the upper boundary is 1.9627; the lower boundary is 1.9551. The width of the pattern is 75 points. In case of a break of the upper boundary 1.9627, 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 Top reversal pattern has been formed on GBPAUD M30. Characteristics: the upper boundary 1.9598; the lower boundary 1.9571; the width of the pattern is 25 points. Sell trades are better to be opened below the lower boundary 1.9571 with a possible movements towards the 1.9541 level.

The Triple Top pattern has formed on the chart of the GBPAUD M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 1.9585/1.9592 with the upper limit 1.9600/1.9601; the projection of the width is 15 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 1.9585, the price is most likely to continue the downward movement.

The Double Bottom pattern has been formed on GBPAUD M5; the upper boundary is 1.9560; the lower boundary is 1.9540. The width of the pattern is 19 points. In case of a break of the upper boundary 1.9560, 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, GBPAUD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 1.9604 and 1.9577 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 27 pips. Outlook: If the upper border 1.9604 is broken, the price is likely to continue its move by 1.9604.

According to the chart of M5, GBPAUD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.9575/1.9590 whereas the upper border goes across 1.9606/1.9590. 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 GBPAUD will breach the upper border to head for 1.9605.

The Double Bottom pattern has been formed on GBPAUD M30. Characteristics: the support level 1.9554; the resistance level 1.9593; the width of the pattern 39 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 36 points.

The Bullish pennant graphic pattern has formed on the GBPAUD M5 instrument. This pattern type falls under the category of continuation patterns. In this case, if the quote can breaks out high, is expected to continue the upward trend to level 1.9643.

The Bearish pennant pattern has formed on the GBPAUD M5 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 1.9515, a trader will be able to successfully enter the sell position.

According to the chart of M30, GBPAUD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 1.9555 is likely to encourage a continuation of the downward trend.