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

The Bearish pennant pattern has formed on the GBPAUD M15 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 2.0468; the projection of the flagpole height is equal to 49 pips. In case the price breaks out the pattern’s bottom of 2.0468, the downtrend is expected to continue for further level 2.0445.

The Triple Top pattern has formed on the chart of the GBPAUD M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 4, support level -8, and pattern’s width 27. Forecast If the price breaks through the support level 2.0751, it is likely to move further down to 2.0762.

The Double Bottom pattern has been formed on GBPAUD M5. Characteristics: the support level 2.0734; the resistance level 2.0762; the width of the pattern 28 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 28 points.

The Double Top reversal pattern has been formed on GBPAUD M15. Characteristics: the upper boundary 2.0760; the lower boundary 2.0734; the width of the pattern is 28 points. Sell trades are better to be opened below the lower boundary 2.0734 with a possible movements towards the 2.0712 level.

According to the chart of H1, GBPAUD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 2.0843 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -98 pips.