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

According to the chart of M5, GBPCHF formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 1.1374 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -29 pips.

On the chart of the GBPCHF M5 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 1.1404, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 8 points.

The Triple Bottom pattern has formed on the chart of GBPCHF M15. Features of the pattern: The lower line of the pattern has coordinates 1.1442 with the upper limit 1.1442/1.1421, the projection of the width is 36 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 1.1406, the price is most likely to continue the upward movement.

According to the chart of M5, GBPCHF formed the Head and Shoulders pattern. The Head’s top is set at 1.1418 while the median line of the Neck is found at 1.1408/1.1408. 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 GBPCHF will go towards 1.1393.

According to M15, GBPCHF is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 1.1398/1.1397 is broken out, the instrument is likely to move toward 1.1420.

The Double Top reversal pattern has been formed on GBPCHF M5. Characteristics: the upper boundary 1.1400; the lower boundary 1.1392; the width of the pattern is 8 points. Sell trades are better to be opened below the lower boundary 1.1392 with a possible movements towards the 1.1377 level.

The Double Top reversal pattern has been formed on GBPCHF M30. Characteristics: the upper boundary 1.1425; the lower boundary 1.1415; the width of the pattern is 9 points. Sell trades are better to be opened below the lower boundary 1.1415 with a possible movements towards the 1.1385 level.

According to the chart of M15, GBPCHF formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.1425 and support 1.1415. In case the resistance level 1.1425 - 1.1425 is broken, the instrument is likely to follow the bullish trend.

On the chart of GBPCHF M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.1425; the lower boundary 1.1416; the width of the pattern 9 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.1394 level.

According to the chart of M5, GBPCHF formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 1.1423, the lower border is 1.1415. The signal means that a long position should be opened above the upper border 1.1423 of the Bullish Rectangle.