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

The Triple Bottom pattern has been formed on GBPJPY M5. It has the following characteristics: resistance level 210.77/210.58; support level 210.40/210.37; the width is 37 points. In the event of a breakdown of the resistance level of 210.77, the price is likely to continue an upward movement at least to 210.53.

The Double Bottom pattern has been formed on GBPJPY M5; the upper boundary is 210.58; the lower boundary is 210.37. The width of the pattern is 20 points. In case of a break of the upper boundary 210.58, 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 GBPJPY M15. Characteristics: the support level 210.40; the resistance level 210.77; the width of the pattern 37 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 39 points.

According to the chart of M5, GBPJPY formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 210.48 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -103 pips.

According to the chart of H1, GBPJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 210.11/210.80 whereas the upper border goes across 211.39/210.80. 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 GBPJPY will breach the upper border to head for 211.20.