GBP/USD - 1H - Technical analysis published on 04/21/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
11%
67%
22%
My opinion
Bearish under 1.2418 USD
My targets
1.2315 USD (-0.0059)
1.2249 USD (-0.0125)
My analysis
The bearish trend is currently very strong for GBP/USD. As long as the price remains below the resistance at 1.2418 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 1.2315 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 1.2249 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 confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
7.9
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This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
GBP/USD rating 1.2374 USD. The price registered an increase of +0.03% on the session with the lowest point at 1.2366 USD and the highest point at 1.2383 USD. The deviation from the price is +0.06% for the low point and -0.07% for the high point.1.2366
1.2383
1.2374
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
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 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
A technical analysis in 1H of this GBP/USD chart shows a sharp bearish trend. 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. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, according to the parameters integrated into the Central Analyzer system, 12 technical indicators out of 18 analysed are currently bearish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.2044 | 1.2249 | 1.2315 | 1.2374 | 1.2418 | 1.2483 | 1.2548 |
| Change (%) | -2.67% | -1.01% | -0.48% | - | +0.36% | +0.88% | +1.41% |
| Change | -0.0330 | -0.0125 | -0.0059 | - | +0.0044 | +0.0109 | +0.0174 |
| Level | Major | Minor | Minor | - | Intermediate | Major | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2233 | 1.2299 | 1.2335 | 1.2401 | 1.2437 | 1.2503 | 1.2539 |
| Camarilla | 1.2342 | 1.2351 | 1.2361 | 1.2370 | 1.2379 | 1.2389 | 1.2398 |
| Woodie | 1.2217 | 1.2292 | 1.2319 | 1.2394 | 1.2421 | 1.2496 | 1.2523 |
| Fibonacci | 1.2299 | 1.2338 | 1.2362 | 1.2401 | 1.2440 | 1.2464 | 1.2503 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2191 | 1.2279 | 1.2324 | 1.2412 | 1.2457 | 1.2545 | 1.2590 |
| Camarilla | 1.2333 | 1.2346 | 1.2358 | 1.2370 | 1.2382 | 1.2394 | 1.2407 |
| Woodie | 1.2171 | 1.2268 | 1.2304 | 1.2401 | 1.2437 | 1.2534 | 1.2570 |
| Fibonacci | 1.2279 | 1.2330 | 1.2361 | 1.2412 | 1.2463 | 1.2494 | 1.2545 |
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): | 34.97 | |
| MACD (12,26,9): | -0.0019 | |
| Directional Movement: | -14.1170 | |
| AROON (14): | -50.0000 | |
| DEMA (21): | 1.2378 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2431 | |
| Elder Ray (13): | -0.0020 | |
| Super Trend (3,10): | 1.2424 | |
| Zig ZAG (10): | 1.2372 | |
| VORTEX (21): | 0.9277 | |
| Stochastique (14,3,5): | 6.54 | |
| TEMA (21): | 1.2367 | |
| Williams %R (14): | -95.10 | |
| Chande Momentum Oscillator (20): | -0.0068 | |
| Repulse (5,40,3): | -0.1210 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0162 | |
| Courbe Coppock: | 0.98 |
| MA7: | 1.2421 | |
| MA20: | 1.2545 | |
| MA50: | 1.2631 | |
| MA100: | 1.2653 | |
| MAexp7: | 1.2378 | |
| MAexp20: | 1.2401 | |
| MAexp50: | 1.2423 | |
| MAexp100: | 1.2444 | |
| Price / MA7: | -0.38% | |
| Price / MA20: | -1.36% | |
| Price / MA50: | -2.03% | |
| Price / MA100: | -2.21% | |
| Price / MAexp7: | -0.03% | |
| Price / MAexp20: | -0.22% | |
| Price / MAexp50: | -0.39% | |
| Price / MAexp100: | -0.56% |
Quotes :
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Real time data
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Forex
News
The last news published on GBP/USD at the time of the generation of this analysis was as follows:
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GBP/USD Forecast April 22, 2024
-
Technical Analysis: 03/04/2024 - GBPUSD battles with 200-day SMA
-
Technical Analysis: 26/03/2024 - GBPUSD bounces off 200-day SMA
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Trade of the week: short GBP/USD
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Trading the trend: long GBP/USD
This member declared not having a position on this financial instrument or a related financial instrument.
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