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

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 1.0890 – 1.0890 and upper border 1.0898 – 1.0898. In case the upper border is broken, the instrument is likely to follow the upward trend.

On the chart of GBPCHF M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.0898; the lower boundary 1.0890; the width of the pattern 8 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.0875 level.

According to the chart of H1, GBPCHF formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 1.0845 is likely to encourage a continuation of the downward trend.

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 1.0898 is broken. The further movements will rely on the width of the current pattern 19 points.

The Double Bottom pattern has been formed on GBPCHF M15. Characteristics: the support level 1.0878; the resistance level 1.0902; the width of the pattern 24 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 23 points.