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

On the chart of GBPUSD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.2725; the lower boundary 1.2685; the width of the pattern 40 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.2663 level.

The Double Top reversal pattern has been formed on GBPUSD H1. Characteristics: the upper boundary 1.2724; the lower boundary 1.2696; the width of the pattern is 27 points. Sell trades are better to be opened below the lower boundary 1.2696 with a possible movements towards the 1.2656 level.

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 1.2705 is broken, the downward movement will continue.

On the chart of GBPUSD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.2709; the lower boundary 1.2700; the width of the pattern 9 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.2678 level.

According to the chart of M5, GBPUSD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.2675 and support 1.2666. In case the resistance level 1.2675 - 1.2675 is broken, the instrument is likely to follow the bullish trend.