GBP/USD - 1H - Technical analysis published on 04/16/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
28%
33%
39%
My opinion
Bearish under 1.2499 USD
My targets
1.2342 USD (-0.0088)
1.2315 USD (-0.0115)
My analysis
The bearish trend is currently very strong for GBP/USD. As long as the price remains below the resistance at 1.2499 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 1.2342 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 1.2315 USD as an objective. Crossing it would then enable sellers to target 1.2044 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. 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.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
6.3
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This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GBP/USD price is 1.2430 USD. The price is lower by -0.13% since the last closing with the lowest point at 1.2408 USD and the highest point at 1.2472 USD. The deviation from the price is +0.18% for the low point and -0.34% for the high point.1.2408
1.2472
1.2430
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of GBP/USD indicates that the overall trend is strongly bearish. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, of the 18 technical indicators analysed by Central Analyzer, 5 are bullish, 7 are neutral and 6 are bearish. Other results related to technical indicators were also found by the Central Indicators scanner:
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.2044 | 1.2315 | 1.2418 | 1.2430 | 1.2499 | 1.2541 | 1.2625 |
| Change (%) | -3.11% | -0.93% | -0.10% | - | +0.56% | +0.89% | +1.57% |
| Change | -0.0386 | -0.0115 | -0.0012 | - | +0.0069 | +0.0111 | +0.0195 |
| Level | Major | Minor | Intermediate | - | Minor | Intermediate | Intermediate |
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 | 1.2352 | 1.2392 | 1.2419 | 1.2459 | 1.2486 | 1.2526 | 1.2553 |
| Camarilla | 1.2428 | 1.2434 | 1.2440 | 1.2446 | 1.2452 | 1.2458 | 1.2464 |
| Woodie | 1.2346 | 1.2389 | 1.2413 | 1.2456 | 1.2480 | 1.2523 | 1.2547 |
| Fibonacci | 1.2392 | 1.2418 | 1.2433 | 1.2459 | 1.2485 | 1.2500 | 1.2526 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2059 | 1.2242 | 1.2342 | 1.2525 | 1.2625 | 1.2808 | 1.2908 |
| Camarilla | 1.2363 | 1.2389 | 1.2415 | 1.2441 | 1.2467 | 1.2493 | 1.2519 |
| Woodie | 1.2017 | 1.2221 | 1.2300 | 1.2504 | 1.2583 | 1.2787 | 1.2866 |
| Fibonacci | 1.2242 | 1.2350 | 1.2417 | 1.2525 | 1.2633 | 1.2700 | 1.2808 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2176 | 1.2376 | 1.2495 | 1.2695 | 1.2814 | 1.3014 | 1.3133 |
| Camarilla | 1.2527 | 1.2557 | 1.2586 | 1.2615 | 1.2644 | 1.2674 | 1.2703 |
| Woodie | 1.2137 | 1.2356 | 1.2456 | 1.2675 | 1.2775 | 1.2994 | 1.3094 |
| Fibonacci | 1.2376 | 1.2498 | 1.2573 | 1.2695 | 1.2817 | 1.2892 | 1.3014 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 41.77 | |
| MACD (12,26,9): | -0.0003 | |
| Directional Movement: | -11.0354 | |
| AROON (14): | 42.8571 | |
| DEMA (21): | 1.2440 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2472 | |
| Elder Ray (13): | -0.0007 | |
| Super Trend (3,10): | 1.2465 | |
| Zig ZAG (10): | 1.2436 | |
| VORTEX (21): | 0.9649 | |
| Stochastique (14,3,5): | 55.21 | |
| TEMA (21): | 1.2445 | |
| Williams %R (14): | -54.69 | |
| Chande Momentum Oscillator (20): | 0.0009 | |
| Repulse (5,40,3): | -0.1333 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0057 | |
| Courbe Coppock: | 0.13 |
| MA7: | 1.2536 | |
| MA20: | 1.2598 | |
| MA50: | 1.2649 | |
| MA100: | 1.2663 | |
| MAexp7: | 1.2445 | |
| MAexp20: | 1.2446 | |
| MAexp50: | 1.2462 | |
| MAexp100: | 1.2496 | |
| Price / MA7: | -0.85% | |
| Price / MA20: | -1.33% | |
| Price / MA50: | -1.73% | |
| Price / MA100: | -1.84% | |
| Price / MAexp7: | -0.12% | |
| Price / MAexp20: | -0.13% | |
| Price / MAexp50: | -0.26% | |
| Price / MAexp100: | -0.53% |
Quotes :
-
Real time data
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Forex
News
Don't forget to follow the news on GBP/USD. At the time of publication of this analysis, the latest news was as follows:
-
Technical Analysis: 03/04/2024 - GBPUSD battles with 200-day SMA
-
Technical Analysis: 26/03/2024 - GBPUSD bounces off 200-day SMA
-
Trade of the week: short GBP/USD
-
Trading the trend: long GBP/USD
-
Technical Analysis: 19/03/2024 - GBPUSD retreats towards 50-day SMA
This member declared not having a position on this financial instrument or a related financial instrument.
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