FX.co ★ Patterns GBPCHF | British Pound (GBP) to Swiss Franc (CHF) Rate in the Forex market

The Double Bottom pattern has been formed on GBPCHF M15. 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 1.1101 is broken. The further movements will rely on the width of the current pattern 78 points.

The Triple Bottom pattern has formed on the chart of the GBPCHF M15 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 1.1286/1.1256.

The Triple Bottom pattern has been formed on GBPCHF M5. It has the following characteristics: resistance level 1.1277/1.1269; support level 1.1260/1.1257; the width is 17 points. In the event of a breakdown of the resistance level of 1.1277, the price is likely to continue an upward movement at least to 1.1263.

The Double Bottom pattern has been formed on GBPCHF M5. Characteristics: the support level 1.1336; the resistance level 1.1367; the width of the pattern 31 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 29 points.

The Bearish pennant pattern has formed on the GBPCHF M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 1.1337 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.

The Double Bottom pattern has been formed on GBPCHF M15. Characteristics: the support level 1.1371; the resistance level 1.1388; the width of the pattern 17 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 17 points.

The Double Top reversal pattern has been formed on GBPCHF M15. Characteristics: the upper boundary 1.1426; the lower boundary 1.1418; the width of the pattern is 8 points. Sell trades are better to be opened below the lower boundary 1.1418 with a possible movements towards the 1.1395 level.

The Double Top pattern has been formed on GBPCHF M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.1418 is broken, the downward movement will continue.

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.