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 M30; the upper boundary is 1.0576; the lower boundary is 1.0493. The width of the pattern is 81 points. In case of a break of the upper boundary 1.0576, 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 Double Bottom pattern has been formed on GBPCHF M5. Characteristics: the support level 1.0550; the resistance level 1.0558; the width of the pattern 8 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 8 points.

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 1.0543 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -19 pips.

The Double Bottom pattern has been formed on GBPCHF M5. Characteristics: the support level 1.0598; the resistance level 1.0607; the width of the pattern 9 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 10 points.

According to the chart of M5, GBPCHF formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 1.0632 and 1.0617 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 15 pips. Outlook: If the upper border 1.0632 is broken, the price is likely to continue its move by 1.0639.

According to the chart of M5, GBPCHF formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 1.0612 – 1.0612 and upper border 1.0620 – 1.0620. In case the upper border is broken, the instrument is likely to follow the upward trend.

The GBPCHF M5 formed the Head and Shoulders pattern with the following features: The Head’s top is at 1.0655, the Neckline and the upward angle are at 1.0645/1.0645. The formation of this pattern can bring about changes in the current trend from bullish to bearish. In case the pattern triggers the expected changes, the price of GBPCHF will go towards 1.0630.

On the chart of GBPCHF M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.0577; the lower boundary 1.0570; the width of the pattern 7 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.0555 level.

According to the chart of M5, GBPCHF formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 1.0561 is likely to encourage a continuation of the downward trend.

According to the chart of M30, GBPCHF formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.0564/1.0593 whereas the upper border goes across 1.0627/1.0593. 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 1.0623.