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

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.

According to the chart of M5, GBPCHF formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.0584/1.0594 whereas the upper border goes across 1.0605/1.0594. 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 1.0609.

The technical pattern called Head and Shoulders has appeared on the chart of GBPCHF M15. There are weighty reasons to suggest that the price will surpass the Neckline 1.0601/1.0608 after the right shoulder has been formed. So, the trend is set to change with the price heading for 1.0586.

According to the chart of M15, GBPCHF formed the Inverse Head and Shoulder pattern. The Head’s top is set at 1.0568 while the median line of the Neck is found at 1.0523/1.0557. 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 1.0590

The Double Top reversal pattern has been formed on GBPCHF M15. Characteristics: the upper boundary 1.0639; the lower boundary 1.0629; the width of the pattern is 11 points. Sell trades are better to be opened below the lower boundary 1.0629 with a possible movements towards the 1.0606 level.

According to the chart of M30, GBPCHF formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 1.0594 is likely to encourage a continuation of the downward trend.

The Double Top pattern has been formed on GBPCHF M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.0622 is broken, the downward movement will continue.

According to the chart of H1, GBPCHF formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 1.0590 is likely to encourage a continuation of the downward trend.