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

According to the chart of M5, EURGBP formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.8383/0.8393 whereas the upper border goes across 0.8401/0.8393. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of EURGBP will breach the upper border to head for 0.8408.

According to the chart of M15, EURGBP formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.8380/0.8392 and upper border is 0.8404/0.8392. The pattern width is measured on the chart at -24 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 EURGBP breaches the lower border, the price could continue its move toward 0.8370.

The Double Bottom pattern has been formed on EURGBP M30. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 0.8409 is broken. The further movements will rely on the width of the current pattern 18 points.

The Double Bottom pattern has been formed on EURGBP M15; the upper boundary is 0.8409; the lower boundary is 0.8391. The width of the pattern is 18 points. In case of a break of the upper boundary 0.8409, 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.

On the chart of EURGBP M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8421;the lower boundary 0.8409; the width of the pattern 12 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8394 level.