FX.co ★ Patterns GBPUSD | British Pound (GBP) to US Dollar (USD) Rate in the Forex market

The Triple Bottom pattern has been formed on GBPUSD M30. It has the following characteristics: resistance level 1.3666/1.3641; support level 1.3609/1.3604; the width is 57 points. In the event of a breakdown of the resistance level of 1.3666, the price is likely to continue an upward movement at least to 1.3644.

The Triple Bottom pattern has formed on the chart of GBPUSD M15. Features of the pattern: The lower line of the pattern has coordinates 1.3666 with the upper limit 1.3666/1.3641, the projection of the width is 57 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 1.3609, the price is most likely to continue the upward movement.

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 1.3622 is broken. The further movements will rely on the width of the current pattern 6 points.

The Triple Bottom pattern has formed on the chart of GBPUSD M15. Features of the pattern: The lower line of the pattern has coordinates 1.3666 with the upper limit 1.3666/1.3627, the projection of the width is 57 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 1.3609, the price is most likely to continue the upward movement.

The Bearish pennant pattern has formed on the GBPUSD M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 1.3624 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.

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 1.3634 is broken. The further movements will rely on the width of the current pattern 4 points.

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 1.3683 is broken. The further movements will rely on the width of the current pattern 20 points.

The Double Bottom pattern has been formed on GBPUSD M5; the upper boundary is 1.3684; the lower boundary is 1.3673. The width of the pattern is 11 points. In case of a break of the upper boundary 1.3684, 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.

On the chart of GBPUSD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.3695; the lower boundary 1.3671; the width of the pattern 24 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.3649 level.

The Double Top reversal pattern has been formed on GBPUSD M15. Characteristics: the upper boundary 1.3699; the lower boundary 1.3690; the width of the pattern is 9 points. Sell trades are better to be opened below the lower boundary 1.3690 with a possible movements towards the 1.3668 level.