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

The Double Top reversal pattern has been formed on GBPUSD M5. Characteristics: the upper boundary 1.3386; the lower boundary 1.3378; the width of the pattern is 7 points. Sell trades are better to be opened below the lower boundary 1.3378 with a possible movements towards the 1.3363 level.

The technical pattern called Head and Shoulders has appeared on the chart of GBPUSD M30. There are weighty reasons to suggest that the price will surpass the Neckline 1.3340/1.3369 after the right shoulder has been formed. So, the trend is set to change with the price heading for 1.3339.

The Bullish Flag pattern has been formed on the chart GBPUSD M5 which signals that the upward trend will continue. Signals: а break of the peak at 1.3442 may push the price higher, and the rise will be the projection of the pole.

The Bullish pennant pattern is formed on the GBPUSD M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 1.3442, a further uptrend is possible.

According to the chart of M5, GBPAUD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 2.0120/2.0136 whereas the upper border goes across 2.0158/2.0136. 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 GBPAUD will breach the upper border to head for 2.0151.