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

According to the chart of M5, EURGBP formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.8383/0.8393 whereas the upper border goes across 0.8401/0.8393. 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 0.8408.

According to the chart of M15, EURGBP formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.8380/0.8392 and upper border is 0.8404/0.8392. The pattern width is measured on the chart at -24 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 EURGBP breaches the lower border, the price could continue its move toward 0.8370.

The Double Bottom pattern has been formed on EURGBP M30. 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 0.8409 is broken. The further movements will rely on the width of the current pattern 18 points.

The Double Bottom pattern has been formed on EURGBP M15; the upper boundary is 0.8409; the lower boundary is 0.8391. The width of the pattern is 18 points. In case of a break of the upper boundary 0.8409, 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 EURGBP M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8421;the lower boundary 0.8409; the width of the pattern 12 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8394 level.

According to the chart of M5, EURGBP formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 0.8425/0.8415 whereas the lower border goes across 0.8408/0.8415. The pattern width is measured on the chart at 17 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 0.8415 is broken, the price could continue its move toward 0.8430.

The Double Top pattern has been formed on EURGBP M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.8419 is broken, the downward movement will continue.

On the chart of EURGBP M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8425;the lower boundary 0.8417; the width of the pattern 8 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8402 level.

The Double Bottom pattern has been formed on EURGBP H1. Characteristics: the support level 0.8418;the resistance level 0.8428; the width of the pattern 10 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 11 points.

According to the chart of H1, EURGBP formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.8428 - 0.0000 and support 0.8418 – 0.8418. In case the resistance level 0.8418 - 0.8418 is broken, the instrument is likely to follow the bearish trend.