GBP/USD FULL0624 - 1H - Technical analysis published on 04/05/2023 (GMT)
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- Timeframe : 1H
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Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
17%
22%
61%
My opinion
Bullish above 1.2481 USD
My targets
1.2544 USD (+0.23%)
1.2652 USD (+1.09%)
My analysis
The basic bullish trend is very strong on GBP/USD FULL0623 but the short term shows some signs of running out of steam. However, a purchase could be considered as long as the price remains above 1.2481 USD. Crossing the first resistance at 1.2544 USD would be a sign of a potential new surge in the price. Buyers would then use the next resistance located at 1.2652 USD as an objective. Crossing it would then enable buyers to target 1.2825 USD. Caution, a return to below 1.2481 USD would be a sign of a consolidation phase in the short-term basic trend. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, the general bullish sentiment is not called into question, despite technical indicators being indecisive.
Force
0
10
4.5
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This analysis was given by bccartwright. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
GBP/USD FULL0623 rating 1.2515 USD. On the day, this instrument lost -0.03% with the lowest point at 1.2475 USD and the highest point at 1.2532 USD. The deviation from the price is +0.32% for the low point and -0.14% for the high point.1.2475
1.2532
1.2515
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of GBP/USD FULL0623 in 1H shows a strongly overall bullish trend. 85.71% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages show a weakening of the global trend. The Central Indicators scanner detects bullish and bearish signals on moving averages that could impact this trend:
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : 1 hour
On the 18 technical indicators analysed, 3 are bullish, 11 are neutral and 4 are bearish. Other results related to technical indicators were also found by the Central Indicators scanner:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
RSI indicator is back under 50
Type : Bearish
Timeframe : 1 hour
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.2371 | 1.2442 | 1.2481 | 1.2515 | 1.2544 | 1.2825 | 1.3539 |
| Change (%) | -1.15% | -0.58% | -0.27% | - | +0.23% | +2.48% | +8.18% |
| Change | -0.0144 | -0.0073 | -0.0034 | - | +0.0029 | +0.0310 | +0.1024 |
| Level | Minor | Intermediate | Intermediate | - | Intermediate | Minor | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2311 | 1.2363 | 1.2441 | 1.2493 | 1.2571 | 1.2623 | 1.2701 |
| Camarilla | 1.2483 | 1.2495 | 1.2507 | 1.2519 | 1.2531 | 1.2543 | 1.2555 |
| Woodie | 1.2324 | 1.2370 | 1.2454 | 1.2500 | 1.2584 | 1.2630 | 1.2714 |
| Fibonacci | 1.2363 | 1.2413 | 1.2443 | 1.2493 | 1.2543 | 1.2573 | 1.2623 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2049 | 1.2145 | 1.2250 | 1.2346 | 1.2451 | 1.2547 | 1.2652 |
| Camarilla | 1.2300 | 1.2318 | 1.2337 | 1.2355 | 1.2373 | 1.2392 | 1.2410 |
| Woodie | 1.2054 | 1.2147 | 1.2255 | 1.2348 | 1.2456 | 1.2549 | 1.2657 |
| Fibonacci | 1.2145 | 1.2222 | 1.2269 | 1.2346 | 1.2423 | 1.2470 | 1.2547 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.1361 | 1.1594 | 1.1975 | 1.2208 | 1.2589 | 1.2822 | 1.3203 |
| Camarilla | 1.2186 | 1.2242 | 1.2299 | 1.2355 | 1.2411 | 1.2468 | 1.2524 |
| Woodie | 1.1434 | 1.1631 | 1.2048 | 1.2245 | 1.2662 | 1.2859 | 1.3276 |
| Fibonacci | 1.1594 | 1.1829 | 1.1974 | 1.2208 | 1.2443 | 1.2588 | 1.2822 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 51.11 | |
| MACD (12,26,9): | 0.0006 | |
| Directional Movement: | 5.6753 | |
| AROON (14): | -28.5714 | |
| DEMA (21): | 1.2512 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2515 | |
| Elder Ray (13): | -0.0003 | |
| Super Trend (3,10): | 1.2470 | |
| Zig ZAG (10): | 1.2501 | |
| VORTEX (21): | 0.9459 | |
| Stochastique (14,3,5): | 45.61 | |
| TEMA (21): | 1.2501 | |
| Williams %R (14): | -52.63 | |
| Chande Momentum Oscillator (20): | -0.0006 | |
| Repulse (5,40,3): | 0.0818 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0126 | |
| Courbe Coppock: | 0.24 |
| MA7: | 1.2416 | |
| MA20: | 1.2277 | |
| MA50: | 1.2184 | |
| MA100: | 1.2186 | |
| MAexp7: | 1.2501 | |
| MAexp20: | 1.2500 | |
| MAexp50: | 1.2473 | |
| MAexp100: | 1.2435 | |
| Price / MA7: | +0.80% | |
| Price / MA20: | +1.94% | |
| Price / MA50: | +2.72% | |
| Price / MA100: | +2.70% | |
| Price / MAexp7: | +0.11% | |
| Price / MAexp20: | +0.12% | |
| Price / MAexp50: | +0.34% | |
| Price / MAexp100: | +0.64% |
Quotes :
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10 min delayed data
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CME Globex Futures
This member declared not having a position on this financial instrument or a related financial instrument.
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