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 1.9280; the lower boundary 1.9268; the width of the pattern is 13 points. Sell trades are better to be opened below the lower boundary 1.9268 with a possible movements towards the 1.9253 level.

According to the chart of M5, GBPAUD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 1.9235 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -17 pips.

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 1.9251 is broken. The further movements will rely on the width of the current pattern 8 points.

The Bearish pennant pattern has formed on the GBPAUD M15 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 1.9238, a trader will be able to successfully enter the sell position.

The Double Top reversal pattern has been formed on GBPAUD H1. Characteristics: the upper boundary 1.9322; the lower boundary 1.9252; the width of the pattern is 77 points. Sell trades are better to be opened below the lower boundary 1.9252 with a possible movements towards the 1.9212 level.

The GBPAUD M5 formed the Head and Shoulders pattern with the following features: The Head’s top is at 1.9329, the Neckline and the upward angle are at 1.9290/1.9292. The formation of this pattern can bring about changes in the current trend from bullish to bearish. In case the pattern triggers the expected changes, the price of GBPAUD will go towards 1.9277.

The Bullish Flag pattern has been formed on GBPAUD at M5. The lower boundary of the pattern is located at 1.9256/1.9244, while the higher boundary lies at 1.9276/1.9264. The projection of the flagpole is 41 points. This formation signals that the upward trend is most likely to continue. Therefore, if the level of 1.9276 is broken, the price will move further upwards.

The Bullish pennant pattern is formed on the GBPAUD M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 1.9276, a further uptrend is possible.

According to the chart of M30, GBPAUD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.9224 and support 1.9183. In case the resistance level 1.9224 - 1.9224 is broken, the instrument is likely to follow the bullish trend.

On the chart of GBPAUD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.9221; the lower boundary 1.9183; the width of the pattern 38 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.9160 level.