FX.co ★ Actual patterns. Technical analysis and trading recommendations
Actual patterns
Double Top
The Double Top reversal pattern has formed on the GBPAUD M15 chart. Its upper boundary is at 1.9046, its lower boundary is at 1.8963, and its width is 83 points. A break below the lower boundary is likely to confirm further downward movement toward 1.8941.
Inverse Head and Shoulders
The Inverse Head and Shoulders pattern has formed on the GBPAUD M5 chart. The head low is at 1.8963, while the neckline passes through 1.9041/1.9035. The formation of the Inverse Head and Shoulders indicates a potential reversal of the downtrend. A break above the higher neckline anchor may confirm the bullish reversal.
Triple Bottom
The Triple Bottom pattern has formed on the GBPAUD M5 chart. A break above the confirmation resistance at 1.9043 may signal a reversal from a downtrend to an uptrend.
Double Bottom
The Double Bottom pattern has formed on the GBPAUD M5 chart and signals a potential reversal from a downtrend to an uptrend. A long position may be considered after the price breaks above the upper boundary at 1.8914. The projected move is based on the pattern width of 13 points.
Bullish Rectangle
The Bullish Rectangle has formed on the GBPAUD M5 chart and indicates a likely continuation of the trend. Its upper boundary is at 1.8953 and its lower boundary is at 1.8916. A long position may be considered after the price breaks above the upper boundary at 1.8953 of the Bullish Rectangle.