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

The Triple Bottom pattern has formed on the chart of GBPCHF M15. Features of the pattern: The lower line of the pattern has coordinates 1.0511 with the upper limit 1.0511/1.0507, the projection of the width is 14 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 1.0497, the price is most likely to continue the upward movement.

According to the chart of M15, GBPCHF formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 1.0479 – 1.0479 and upper border 1.0497 – 1.0497. In case the upper border is broken, the instrument is likely to follow the upward trend.

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 1.0479 – 1.0479 and upper border 1.0497 – 1.0497. In case the upper border is broken, the instrument is likely to follow the upward trend.

On the chart of GBPCHF M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.0497; the lower boundary 1.0479; the width of the pattern 18 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.0457 level.

According to the chart of M5, GBPCHF formed the Inverse Head and Shoulder pattern. The Head’s top is set at 1.0470 while the median line of the Neck is found at 1.0458/1.0465. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of GBPCHF will go towards 1.0485

According to the chart of M30, GBPCHF formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 1.0436 is likely to encourage a continuation of the downward trend.

According to the chart of M15, GBPCHF formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 1.0436 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -56 pips.

The Double Bottom pattern has been formed on GBPCHF H1; the upper boundary is 1.0499; the lower boundary is 1.0457. The width of the pattern is 42 points. In case of a break of the upper boundary 1.0499, 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 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.