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Double Bottom
The Double Bottom pattern has been formed on GBPUSD M5. 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 1.3418 is broken. The further movements will rely on the width of the current pattern 9 points.
Double Top
On the chart of GBPUSD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.3447; the lower boundary 1.3435; the width of the pattern 12 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.3412 level.
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Double Top
The Double Top reversal pattern has been formed on GBPUSD M15. Characteristics: the upper boundary 1.3447; the lower boundary 1.3439; the width of the pattern is 7 points. Sell trades are better to be opened below the lower boundary 1.3439 with a possible movements towards the 1.3417 level.
Triple Top
The Triple Top pattern has formed on the chart of the GBPUSD M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 1.3424/1.3439 with the upper limit 1.3450/1.3446; the projection of the width is 26 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 1.3424, the price is most likely to continue the downward movement.
Bullish Rectangle
According to the chart of M5, GBPUSD formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 1.3439 – 1.3439 and upper border 1.3447 – 1.3447. In case the upper border is broken, the instrument is likely to follow the upward trend.
