FX.co ★ Actual patterns. Technical analysis and trading recommendations

According to the chart of M15, GBPUSD formed the Inverse Head and Shoulder pattern. The Head’s top is set at 1.3386 while the median line of the Neck is found at 1.3365/1.3378. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of GBPUSD will go towards 1.3408

According to the chart of M5, GBPUSD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 1.3359 is likely to encourage a continuation of the downward trend.

The Double Bottom pattern has been formed on GBPUSD M15; the upper boundary is 1.3422; the lower boundary is 1.3412. The width of the pattern is 9 points. In case of a break of the upper boundary 1.3422, 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.

The Double Bottom pattern has been formed on GBPUSD M5; the upper boundary is 1.3422; the lower boundary is 1.3412. The width of the pattern is 9 points. In case of a break of the upper boundary 1.3422, 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.

The Triple Bottom pattern has formed on the chart of the GBPUSD M5 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 1.3457/1.3455.