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

According to the chart of M15, GBPJPY formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 208.19 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -126 pips.

On the chart of GBPJPY M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 209.19; the lower boundary 208.19; the width of the pattern 100 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 207.96 level.

According to the chart of M5, GBPJPY formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 208.93 – 208.93 and upper border 209.24 – 209.24. In case the lower border is broken, the instrument is likely to follow the downward trend.

The Double Bottom pattern has been formed on GBPJPY M5; the upper boundary is 209.24; the lower boundary is 208.93. The width of the pattern is 30 points. In case of a break of the upper boundary 209.24, 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.

The Double Bottom pattern has been formed on GBPJPY M5; the upper boundary is 209.19; the lower boundary is 209.02. The width of the pattern is 16 points. In case of a break of the upper boundary 209.19, 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.