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

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 1.0575, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 7 points.

The Double Bottom pattern has been formed on GBPCHF M5; the upper boundary is 1.0579; the lower boundary is 1.0570. The width of the pattern is 8 points. In case of a break of the upper boundary 1.0579, 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.

According to the chart of M30, GBPCHF formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.0609 - 0.0000 and support 1.0585 – 1.0585. In case the resistance level 1.0585 - 1.0585 is broken, the instrument is likely to follow the bearish trend.

According to the chart of H1, GBPCHF formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.0609 - 0.0000 and support 1.0585 – 1.0585. In case the resistance level 1.0585 - 1.0585 is broken, the instrument is likely to follow the bearish trend.

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 1.0585 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -25 pips.

The Triple Bottom pattern has formed on the chart of GBPCHF M15. Features of the pattern: The lower line of the pattern has coordinates 1.0599 with the upper limit 1.0599/1.0596, the projection of the width is 11 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 1.0588, the price is most likely to continue the upward movement.

The Double Bottom pattern has been formed on GBPCHF M30. 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 1.0595 is broken. The further movements will rely on the width of the current pattern 7 points.

The Triple Bottom pattern has formed on the chart of the GBPCHF M5 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 1.0601/1.0599.

On the chart of GBPCHF H1 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.0653; the lower boundary 1.0596; the width of the pattern 57 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.0556 level.

The Bullish Flag pattern which signals continuation of a trend has been formed on the chart GBPCHF M5. Forecast: if the price breaks above the pattern high at 1.0652, then traders will be able to place a long deal with the target at 1.0667.