FX.co ★ Patterns EURGBP | Euro (EUR) to British Pound (GBP) Rate in the Forex market

The Double Top reversal pattern has been formed on EURGBP M15. Characteristics: the upper boundary 0.8297; the lower boundary 0.8291; the width of the pattern is 5 points. Sell trades are better to be opened below the lower boundary 0.8291 with a possible movements towards the 0.8268 level.

On the chart of the EURGBP M5 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 0.8286, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 11 points.

The Double Bottom pattern has been formed on EURGBP M15. 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 0.8279 is broken. The further movements will rely on the width of the current pattern 10 points.

According to the chart of H1, EURGBP formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.8323/0.8344 whereas the upper border goes across 0.8363/0.8344. 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 EURGBP will breach the upper border to head for 0.8384.

The Bearish pennant pattern has formed on the EURGBP M30 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 0.8331, a trader will be able to successfully enter the sell position.

According to the chart of M15, EURGBP formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 0.8360/0.8348 whereas the lower border goes across 0.8339/0.8348. The pattern width is measured on the chart at 21 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 0.8348 is broken, the price could continue its move toward 0.8371.

The Bullish Flag pattern has been formed on EURGBP at M15. The lower boundary of the pattern is located at 0.8351/0.8351, while the higher boundary lies at 0.8357/0.8357. The projection of the flagpole is 12 points. This formation signals that the upward trend is most likely to continue. Therefore, if the level of 0.8357 is broken, the price will move further upwards.

According to the chart of M5, EURGBP formed the Head and Shoulders pattern. The Head’s top is set at 0.8357 while the median line of the Neck is found at 0.8343/0.8344. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of EURGBP will go towards 0.8329.

The Bullish Flag pattern has been formed on the chart EURGBP M15 which signals that the upward trend will continue. Signals: а break of the peak at 0.8344 may push the price higher, and the rise will be the projection of the pole.

On the chart of EURGBP M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8344; the lower boundary 0.8332; the width of the pattern 12 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8317 level.