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The technical pattern called Head and Shoulders has appeared on the chart of GBPCHF M5. There are weighty reasons to suggest that the price will surpass the Neckline 1.0787/1.0786 after the right shoulder has been formed. So, the trend is set to change with the price heading for 1.0771.

The Double Top reversal pattern has been formed on GBPCHF M15. Characteristics: the upper boundary 1.0791; the lower boundary 1.0783; the width of the pattern is 8 points. Sell trades are better to be opened below the lower boundary 1.0783 with a possible movements towards the 1.0761 level.

According to the chart of M5, GBPCHF formed the Head and Shoulders pattern. The Head’s top is set at 1.0776 while the median line of the Neck is found at 1.0762/1.0764. 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 1.0749.

According to the chart of H1, GBPCHF formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 1.0736 – 1.0736 and upper border 1.0753 – 1.0753. In case the lower border is broken, the instrument is likely to follow the downward trend.

According to the chart of M30, GBPCHF formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.0753 - 0.0000 and support 1.0736 – 1.0736. In case the resistance level 1.0736 - 1.0736 is broken, the instrument is likely to follow the bearish trend.