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

On the chart of GBPCHF M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.1426; the lower boundary 1.1383; the width of the pattern 43 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.1368 level.

According to the chart of M15, GBPCHF formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 1.1428, the lower border is 1.1394. The signal means that a short position should be opened after fixing a price below the lower border 1.1394 of the Bearish Rectangle.

The Double Bottom pattern has been formed on GBPCHF M15. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 1.1427 is broken. The further movements will rely on the width of the current pattern 33 points.

The Triple Top pattern has formed on the chart of the GBPCHF M15 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -2, support level -5, and pattern’s width 23. Forecast If the price breaks through the support level 1.1472, it is likely to move further down to 1.1466.

According to the chart of M5, GBPCHF formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 1.1460 – 1.1460 and upper border 1.1476 – 1.1476. In case the upper border is broken, the instrument is likely to follow the upward trend.