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

According to the chart of M5, EURGBP formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 0.8624 – 0.8624 and upper border 0.8629 – 0.8629. In case the lower border is broken, the instrument is likely to follow the downward trend.

The Double Bottom pattern has been formed on EURGBP M15. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 0.8629 is broken. The further movements will rely on the width of the current pattern 5 points.

According to H1, EURGBP is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 0.8632/0.8631 is broken out, the instrument is likely to move toward 0.8671.

According to M30, EURGBP is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 0.8632/0.8631 is broken out, the instrument is likely to move toward 0.8661.

The Bearish Flag pattern has been formed on the chart EURGBP M30. Therefore, the downwards trend is likely to continue in the nearest term. As soon as the price breaks below the low at 0.8619, traders should enter the market.