Actual patterns
Patterns are graphical models which are formed in the chart by the price. According to one of the technical analysis postulates, history (price movement) repeats itself. It means that the price movements are often similar in the same situations which makes it possible to predict the further development of the situation with a high probability.
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Bearish Rectangle
was formed on 30.07 at 02:34:34 (UTC+0)
signal strength 4 of 5
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 and support 197.70 – 197.70. In case the resistance level 197.70 - 197.70 is broken, the instrument is likely to follow the bearish trend.
