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

According to the chart of M5, GBPCHF formed the Head and Shoulders pattern. The Head’s top is set at 1.0476 while the median line of the Neck is found at 1.0462/1.0463. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of GBPCHF will go towards 1.0448.

According to the chart of M5, GBPCHF formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.0433/1.0441 and upper border is 1.0448/1.0441. The pattern width is measured on the chart at -15 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 1.0426.

The Bearish Flag pattern has been formed on GBPCHF at M5. The lower boundary of the pattern is located at 1.0432/1.0436 while the upper boundary lies at 1.0436/1.0440. The projection of the flagpole is 13 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 1.0432 is broken, the price will move further downwards.

The Bearish pennant pattern has formed on the GBPCHF M5 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 1.0432, a trader will be able to successfully enter the sell position.

The GBPCHF M5 formed the Head and Shoulders pattern with the following features: The Head’s top is at 1.0467, the Neckline and the upward angle are at 1.0456/1.0455. The formation of this pattern can bring about changes in the current trend from bullish to bearish. In case the pattern triggers the expected changes, the price of GBPCHF will go towards 1.0440.