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

The Bearish pennant pattern has formed on the GBPAUD M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 1.8910; the projection of the flagpole height is equal to 32 pips. In case the price breaks out the pattern’s bottom of 1.8910, the downtrend is expected to continue for further level 1.8895.

According to the chart of M5, GBPAUD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.8961/1.8966 and upper border is 1.8971/1.8966. The pattern width is measured on the chart at -10 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and GBPAUD breaches the lower border, the price could continue its move toward 1.8951.

According to the chart of M5, GBPAUD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 1.8961 – 1.8961 and upper border 1.8970 – 1.8970. In case the lower border is broken, the instrument is likely to follow the downward trend.

According to the chart of M5, GBPAUD formed the Head and Shoulders pattern. The Head’s top is set at 1.9102 while the median line of the Neck is found at 1.9018/1.9025. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of GBPAUD will go towards 1.9010.

According to the chart of M5, GBPAUD formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 1.9010 – 1.9010 and upper border 1.9024 – 1.9024. In case the upper border is broken, the instrument is likely to follow the upward trend.