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FX.co ★ GBPUSD M5: Bearish Rectangle

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Technical Analysis Patterns

2024-04-30T22:12:14
Signal strength 1 of 5

GBPUSD M5: Bearish Rectangle

Bearish RectangleAccording to the chart of M5, GBPUSD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 1.2486 – 1.2486 and upper border 1.2493 – 1.2493. In case the lower border is broken, the instrument is likely to follow the downward trend.
The M5 and M15 time frames may have more false entry points.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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