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 M5. Characteristics: the support level 1.2683; the resistance level 1.2692; the width of the pattern 9 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 10 points.

According to the chart of M15, GBPUSD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.2711 - 0.0000 and support 1.2698 – 1.2698. In case the resistance level 1.2698 - 1.2698 is broken, the instrument is likely to follow the bearish trend.

According to the chart of M5, GBPUSD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.2685/1.2711 and upper border is 1.2729/1.2711. The pattern width is measured on the chart at -44 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 1.2696.

According to the chart of M5, GBPUSD formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 1.2827/1.2816 whereas the lower border goes across 1.2808/1.2816. The pattern width is measured on the chart at 19 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 1.2816 is broken, the price could continue its move toward 1.2831.

The Double Bottom pattern has been formed on GBPUSD M5. Characteristics: the support level 1.2835; the resistance level 1.2846; the width of the pattern 11 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 10 points.

The Double Bottom pattern has been formed on GBPUSD M30. Characteristics: the support level 1.2855; the resistance level 1.2876; the width of the pattern 21 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 20 points.

The Double Bottom pattern has been formed on GBPUSD M15. Characteristics: the support level 1.2855; the resistance level 1.2876; the width of the pattern 21 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 19 points.

According to the chart of M5, GBPUSD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 1.2875 – 1.2875 and upper border 1.2889 – 1.2889. In case the lower border is broken, the instrument is likely to follow the downward trend.

The Double Bottom pattern has been formed on GBPUSD 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 1.2889 is broken. The further movements will rely on the width of the current pattern 13 points.

According to the chart of H1, GBPUSD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.2819/1.2933 whereas the upper border goes across 1.3046/1.2933. 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 1.2973.