FX.co ★ Modèles réels. Analyse technique et recommandations de trading

On the chart of EURGBP M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8470; the lower boundary 0.8448; the width of the pattern 22 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8425 level.

The Triple Top pattern has formed on the chart of the EURGBP M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 0.8396/0.8415 with the upper limit 0.8437/0.8435; the projection of the width is 41 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 0.8396, the price is most likely to continue the downward movement.

According to the chart of M5, EURGBP formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 0.8356, the lower border is 0.8352. The signal means that a long position should be opened above the upper border 0.8356 of the Bullish Rectangle.

According to the chart of M5, EURGBP formed the Inverse Head and Shoulder pattern. The Head’s top is set at 0.8354 while the median line of the Neck is found at 0.8350/0.8352. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of EURGBP will go towards 0.8369

According to the chart of H1, EURGBP formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 0.8370, the lower border is 0.8348. The signal means that a long position should be opened above the upper border 0.8370 of the Bullish Rectangle.