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

According to the chart of M5, GBPJPY formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 191.30 and support 191.06. In case the resistance level 191.30 - 191.30 is broken, the instrument is likely to follow the bullish trend.

The Double Top reversal pattern has been formed on GBPJPY M5. Characteristics: the upper boundary 190.98; the lower boundary 190.74; the width of the pattern is 23 points. Sell trades are better to be opened below the lower boundary 190.74 with a possible movements towards the 190.59 level.

The Double Top reversal pattern has been formed on GBPJPY M15. Characteristics: the upper boundary 190.48; the lower boundary 190.25; the width of the pattern is 23 points. Sell trades are better to be opened below the lower boundary 190.25 with a possible movements towards the 190.02 level.

The Double Top pattern has been formed on GBPJPY M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 190.07 is broken, the downward movement will continue.

The Double Top reversal pattern has been formed on GBPJPY M15. Characteristics: the upper boundary 190.28; the lower boundary 190.02; the width of the pattern is 25 points. Sell trades are better to be opened below the lower boundary 190.02 with a possible movements towards the 189.79 level.