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

On the chart of the GBPUSD M15 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 1.3246, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 21 points.

According to the chart of M5, GBPUSD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 1.3203 is likely to encourage a continuation of the downward trend.

The Double Top pattern has been formed on GBPUSD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.3238 is broken, the downward movement will continue.

The Bullish pennant graphic pattern has formed on the GBPUSD M5 instrument. This pattern type falls under the category of continuation patterns. In this case, if the quote can breaks out high, is expected to continue the upward trend to level 1.3250.

The Double Bottom pattern has been formed on GBPUSD M30; the upper boundary is 1.3228; the lower boundary is 1.3203. The width of the pattern is 26 points. In case of a break of the upper boundary 1.3228, 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.