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

According to M30, GBPAUD is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 1.8841/1.8841 is broken out, the instrument is likely to move toward 1.8871.

The Double Bottom pattern has been formed on GBPAUD M5; the upper boundary is 1.8857; the lower boundary is 1.8850. The width of the pattern is 8 points. In case of a break of the upper boundary 1.8857, 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 Top reversal pattern has been formed on GBPAUD M5. Characteristics: the upper boundary 1.8886; the lower boundary 1.8879; the width of the pattern is 7 points. Sell trades are better to be opened below the lower boundary 1.8879 with a possible movements towards the 1.8864 level.

The Double Bottom pattern has been formed on GBPAUD M5; the upper boundary is 1.8904; the lower boundary is 1.8883. The width of the pattern is 22 points. In case of a break of the upper boundary 1.8904, 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 Triple Top pattern has formed on the chart of the GBPAUD M30. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 1.8844/1.8870 with the upper limit 1.8910/1.8905; the projection of the width is 66 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 1.8844, the price is most likely to continue the downward movement.