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

According to the chart of M30, GBPCHF produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 1.0618 while the median line of the Neck is set at 1.0644/1.0642. 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 1.0672.

According to M15, GBPCHF is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 1.0644/1.0642 is broken out, the instrument is likely to move toward 1.0664.

The Double Top reversal pattern has been formed on GBPCHF D1. Characteristics: the upper boundary 1.0776; the lower boundary 1.0360; the width of the pattern is 398 points. Sell trades are better to be opened below the lower boundary 1.0360 with a possible movements towards the 1.0320 level.

According to the chart of M5, GBPCHF formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 1.0687 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -22 pips.

The Double Bottom pattern has been formed on GBPCHF M5; the upper boundary is 1.0705; the lower boundary is 1.0696. The width of the pattern is 8 points. In case of a break of the upper boundary 1.0705, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.