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

The Triple Bottom pattern has been formed on GBPUSD M15. It has the following characteristics: resistance level 1.3530/1.3524; support level 1.3517/1.3514; the width is 13 points. In the event of a breakdown of the resistance level of 1.3530, the price is likely to continue an upward movement at least to 1.3537.

According to the chart of H1, GBPUSD formed the Head and Shoulders pattern. The Head’s top is set at 1.3589 while the median line of the Neck is found at 1.3481/1.3517. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of GBPUSD will go towards 1.3477.

The Triple Bottom pattern has been formed on GBPUSD M5. It has the following characteristics: resistance level 1.3530/1.3520; support level 1.3517/1.3515; the width is 13 points. In the event of a breakdown of the resistance level of 1.3530, the price is likely to continue an upward movement at least to 1.3532.

The Double Top pattern has been formed on GBPUSD H1. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.3481 is broken, the downward movement will continue.

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 1.3509 – 1.3509 and upper border 1.3525 – 1.3525. In case the upper border is broken, the instrument is likely to follow the upward trend.