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

The Triple Top pattern has formed on the chart of the GBPCHF M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 1.1183/1.1188 with the upper limit 1.1208/1.1207; the projection of the width is 25 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 1.1183, the price is most likely to continue the downward movement.

According to the chart of M5, GBPCHF formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 1.1208 and 1.1175 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 33 pips. Outlook: If the upper border 1.1208 is broken, the price is likely to continue its move by 1.1207.

According to the chart of M5, GBPCHF formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.1145/1.1163 whereas the upper border goes across 1.1176/1.1163. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of GBPCHF will breach the upper border to head for 1.1178.

The Triple Bottom pattern has formed on the chart of GBPCHF M15. Features of the pattern: The lower line of the pattern has coordinates 1.1193 with the upper limit 1.1193/1.1187, the projection of the width is 17 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 1.1176, the price is most likely to continue the upward movement.

The Double Bottom pattern has been formed on GBPCHF M30; the upper boundary is 1.1236; the lower boundary is 1.1175. The width of the pattern is 58 points. In case of a break of the upper boundary 1.1236, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.

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 1.1205/1.1193.

The Triple Bottom pattern has been formed on GBPCHF M5. It has the following characteristics: resistance level 1.1205/1.1193; support level 1.1176/1.1175; the width is 29 points. In the event of a breakdown of the resistance level of 1.1205, the price is likely to continue an upward movement at least to 1.1193.

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 1.1205 is broken. The further movements will rely on the width of the current pattern 29 points.

According to the chart of H1, GBPCHF produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 1.1123 while the median line of the Neck is set at 1.1204/1.1199. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of GBPCHF will go towards 1.1239.

According to the chart of M5, GBPCHF formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 1.1141 is likely to encourage a continuation of the downward trend.