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

According to the chart of M5, GBPAUD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 2.0146 - 0.0000 and support 2.0138 – 2.0138. In case the resistance level 2.0138 - 2.0138 is broken, the instrument is likely to follow the bearish trend.

The Triple Top pattern has formed on the chart of the GBPAUD M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 0, support level -1, and pattern’s width 9. Forecast If the price breaks through the support level 2.0154, it is likely to move further down to 2.0149.

The Double Bottom pattern has been formed on GBPAUD M30. Characteristics: the support level 2.0144; the resistance level 2.0220; the width of the pattern 76 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 78 points.

According to M5, GBPAUD is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 2.0172/2.0173 is broken out, the instrument is likely to move toward 2.0188.

The Double Top reversal pattern has been formed on GBPAUD M15. Characteristics: the upper boundary 2.0228; the lower boundary 2.0213; the width of the pattern is 13 points. Sell trades are better to be opened below the lower boundary 2.0213 with a possible movements towards the 2.0190 level.