FX.co ★ Actual patterns. Technical analysis and trading recommendations

According to the chart of H1, GBPCHF produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 1.0562 while the median line of the Neck is set at 1.0595/1.0593. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of GBPCHF will go towards 1.0633.

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 1.0585 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -40 pips.

The Double Top reversal pattern has been formed on GBPCHF M15. Characteristics: the upper boundary 1.0620; the lower boundary 1.0599; the width of the pattern is 21 points. Sell trades are better to be opened below the lower boundary 1.0599 with a possible movements towards the 1.0576 level.

According to the chart of M5, GBPCHF formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 1.0620 and 1.0598 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 22 pips. Outlook: If the upper border 1.0620 is broken, the price is likely to continue its move by 1.0624.

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 1.0598 is broken, the downward movement will continue.

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 1.0600 is broken, the downward movement will continue.

According to the chart of M15, GBPCHF formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.0586/1.0601 whereas the upper border goes across 1.0621/1.0601. 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 1.0624.

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 1.0607 is broken, the downward movement will continue.

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 1.0613 - 0.0000 and support 1.0605 – 1.0605. In case the resistance level 1.0605 - 1.0605 is broken, the instrument is likely to follow the bearish trend.

The Bearish Flag pattern has been formed on the chart GBPCHF M30 which signals that the downward trend will continue. If the price breaks below the low at 1.0604, then it is most likely to move further downwards. The price will likely move by the number of points which equals the length of the flag pole (20 points).