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

According to the chart of M5, GBPCHF formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 1.0724, the lower border is 1.0709. The signal means that a short position should be opened after fixing a price below the lower border 1.0709 of the Bearish Rectangle.

According to the chart of M15, GBPCHF formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.0846/1.0853 whereas the upper border goes across 1.0860/1.0853. 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 1.0876.

On the chart of the GBPCHF M15 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 1.0842, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 20 points.

The Double Top reversal pattern has been formed on GBPCHF M15. Characteristics: the upper boundary 1.0862; the lower boundary 1.0842; the width of the pattern is 21 points. Sell trades are better to be opened below the lower boundary 1.0842 with a possible movements towards the 1.0819 level.

The Double Top pattern has been formed on GBPCHF M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.0842 is broken, the downward movement will continue.