signal strength 1 of 5
According to the chart of M5, GBPUSD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.3371/1.3386 and upper border is 1.3396/1.3386. The pattern width is measured on the chart at -25 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 GBPUSD breaches the lower border, the price could continue its move toward 1.3371.
The M5 and M15 time frames may have more false entry points.
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- Rectangle
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- Triple top
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On the chart of GBPCHF H1 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.0763; the lower boundary 1.0727; the width of the pattern 36 points
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According to the chart of H1, GBPJPY formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 198.43 - 0.00
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The Double Top reversal pattern has been formed on GBPCHF M30. Characteristics: the upper boundary 1.0764; the lower boundary 1.0747; the width of the pattern is 16 points. Sell trades
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