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

According to the chart of M5, EURGBP formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.8303 is likely to encourage a continuation of the downward trend.

According to M30, EURGBP is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 0.8339/0.8338 is broken out, the instrument is likely to move toward 0.8368.

According to the chart of M30, EURGBP produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 0.8312 while the median line of the Neck is set at 0.8339/0.8338. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of EURGBP will go towards 0.8368.

The Double Bottom pattern has been formed on EURGBP M15; the upper boundary is 0.8335; the lower boundary is 0.8327. The width of the pattern is 9 points. In case of a break of the upper boundary 0.8335, 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.

According to the chart of M5, EURGBP formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 0.8356, the lower border is 0.8346. The signal means that a short position should be opened after fixing a price below the lower border 0.8346 of the Bearish Rectangle.