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

The Double Bottom pattern has been formed on GBPCHF M5. Characteristics: the support level 1.1341; the resistance level 1.1355; the width of the pattern 14 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 13 points.

According to the chart of M15, GBPCHF formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.1371/1.1389 whereas the upper border goes across 1.1413/1.1389. 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 1.1411.

According to the chart of M15, GBPCHF formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 1.1413 and 1.1371 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 42 pips. Outlook: If the upper border 1.1413 is broken, the price is likely to continue its move by 1.1411.

According to M15, GBPCHF is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 1.1416/1.1411 is broken out, the instrument is likely to move toward 1.1434.

The GBPCHF M5 formed the Head and Shoulders pattern with the following features: The Head’s top is at 1.1509, the Neckline and the upward angle are at 1.1488/1.1490. 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 1.1475.