FX.co ★ Patterns GBPCHF | British Pound (GBP) to Swiss Franc (CHF) Rate in the Forex market
The Double Top reversal pattern has been formed on GBPCHF M30. Characteristics: the upper boundary 1.2955; the lower boundary 1.2916; the width of the pattern is 36 points. Sell trades are better to be opened below the lower boundary 1.2916 with a possible movements towards the 1.2886 level.
The Bullish Flag pattern has been formed on the chart GBPCHF M15 which signals that the upward trend will continue. Signals: а break of the peak at 1.2955 may push the price higher, and the rise will be the projection of the pole.
The Bullish pennant signal – Trading instrument GBPCHF M15, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 1.2955, with the prospect of the next move being a projection of the flagpole height.
Bearish Symmetrical Triangle
According to the chart of M5, GBPCHF formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.2848/1.2884 and upper border is 1.2922/1.2884. The pattern width is measured on the chart at -74 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and GBPCHF breaches the lower border, the price could continue its move toward 1.
According to the chart of M15, GBPCHF formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.2935 - 0.0000 and support 1.2900 – 1.2900. In case the resistance level 1.2900 - 1.2900 is broken, the instrument is likely to follow the bearish trend.
On the chart of GBPCHF M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.2930; the lower boundary 1.2900; the width of the pattern 30 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.2885 level.
The Double Bottom pattern has been formed on GBPCHF M5. 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 1.2923 is broken. The further movements will rely on the width of the current pattern 12 points.
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 1.2937, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 12 points.
Bullish Symmetrical Triangle
According to the chart of H1, GBPCHF formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.2878/1.2926 whereas the upper border goes across 1.2968/1.2926. 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 1.2966.
On the chart of GBPCHF M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.2952; the lower boundary 1.2935; the width of the pattern 17 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.2920 level.