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 M5. Characteristics: the support level 1.0691; the resistance level 1.0697; the width of the pattern 6 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 6 points.

The Double Top pattern has been formed on GBPCHF M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.0744 is broken, the downward movement will continue.

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 1.0741 – 1.0741 and upper border 1.0753 – 1.0753. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Bearish Flag pattern has been formed on GBPCHF at M15. The lower boundary of the pattern is located at 1.0725/1.0733 while the upper boundary lies at 1.0731/1.0739. The projection of the flagpole is 23 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 1.0725 is broken, the price will move further downwards.

The Bearish pennant pattern has formed on the GBPCHF M15 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 1.0725 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.

According to the chart of M5, GBPCHF formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 1.0751, the lower border is 1.0733. The signal means that a short position should be opened after fixing a price below the lower border 1.0733 of the Bearish Rectangle.

The Double Bottom pattern has been formed on GBPCHF M5. Characteristics: the support level 1.0744; the resistance level 1.0748; the width of the pattern 4 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 4 points.

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 1.0761, then traders will be able to place a long deal with the target at 1.0776.

The Bullish pennant pattern is formed on the GBPCHF M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 1.0761, a further uptrend is possible.

According to the chart of M5, GBPCHF formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.0747/1.0751 whereas the upper border goes across 1.0755/1.0751. 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 1.0766.