GBP/USD - 1H - Technical analysis published on 05/02/2024 (GMT)
- 91
- 0
I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
61%
6%
33%
My opinion
Bullish above 1.2466 USD
My targets
1.2570 USD (+0.0035)
1.2675 USD (+0.0140)
My analysis
In the short term, there could be an acceleration of the basic bullish trend on GBP/USD. This is a positive signal for buyers. As long as the price remains above 1.2466 USD, a purchase could be considered. The first bullish objective is located at 1.2570 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 1.2675 USD as an objective. Crossing it would then enable buyers to target 1.2835 USD. In the event of a return below 1.2466 USD, the price would probably only initiate a small short-term correction to improve the bullish trend. Trading this correction may be risky.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
6.4
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
GBP/USD rating 1.2535 USD. The price is lower by -0.01% since the last closing and was traded between 1.2520 USD and 1.2540 USD over the period. The price is currently at +0.12% from its lowest and -0.04% from its highest.1.2520
1.2540
1.2535
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 (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a 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 bullish. 78.57% of the signals given by moving averages are bullish. The overall trend is reinforced by the strong bullish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, according to the parameters integrated into the Central Analyzer system, 11 technical indicators out of 18 analysed are currently bullish. The Central Indicators scanner found no further results concerning independent technical indicators.
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
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 | 1.2418 | 1.2466 | 1.2534 | 1.2535 | 1.2570 | 1.2675 | 1.2835 |
| Change (%) | -0.93% | -0.55% | -0.01% | - | +0.28% | +1.12% | +2.39% |
| Change | -0.0117 | -0.0069 | -0.0001 | - | +0.0035 | +0.0140 | +0.0300 |
| Level | Major | Major | Intermediate | - | Intermediate | Intermediate | Major |
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 | 1.2401 | 1.2433 | 1.2485 | 1.2517 | 1.2569 | 1.2601 | 1.2653 |
| Camarilla | 1.2513 | 1.2521 | 1.2528 | 1.2536 | 1.2544 | 1.2551 | 1.2559 |
| Woodie | 1.2410 | 1.2438 | 1.2494 | 1.2522 | 1.2578 | 1.2606 | 1.2662 |
| Fibonacci | 1.2433 | 1.2465 | 1.2485 | 1.2517 | 1.2549 | 1.2569 | 1.2601 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2106 | 1.2202 | 1.2348 | 1.2444 | 1.2590 | 1.2686 | 1.2832 |
| Camarilla | 1.2427 | 1.2449 | 1.2471 | 1.2493 | 1.2515 | 1.2537 | 1.2560 |
| Woodie | 1.2130 | 1.2215 | 1.2372 | 1.2457 | 1.2614 | 1.2699 | 1.2856 |
| Fibonacci | 1.2202 | 1.2295 | 1.2352 | 1.2444 | 1.2537 | 1.2594 | 1.2686 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.1879 | 1.2089 | 1.2289 | 1.2499 | 1.2699 | 1.2909 | 1.3109 |
| Camarilla | 1.2376 | 1.2414 | 1.2451 | 1.2489 | 1.2527 | 1.2564 | 1.2602 |
| Woodie | 1.1874 | 1.2087 | 1.2284 | 1.2497 | 1.2694 | 1.2907 | 1.3104 |
| Fibonacci | 1.2089 | 1.2246 | 1.2342 | 1.2499 | 1.2656 | 1.2752 | 1.2909 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 57.62 | |
| MACD (12,26,9): | 0.0010 | |
| Directional Movement: | 10.1784 | |
| AROON (14): | 14.2857 | |
| DEMA (21): | 1.2529 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2516 | |
| Elder Ray (13): | 0.0010 | |
| Super Trend (3,10): | 1.2488 | |
| Zig ZAG (10): | 1.2533 | |
| VORTEX (21): | 1.1289 | |
| Stochastique (14,3,5): | 75.46 | |
| TEMA (21): | 1.2540 | |
| Williams %R (14): | -23.61 | |
| Chande Momentum Oscillator (20): | 0.0044 | |
| Repulse (5,40,3): | -0.0020 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0081 | |
| Courbe Coppock: | 0.64 |
| MA7: | 1.2511 | |
| MA20: | 1.2501 | |
| MA50: | 1.2614 | |
| MA100: | 1.2645 | |
| MAexp7: | 1.2531 | |
| MAexp20: | 1.2519 | |
| MAexp50: | 1.2513 | |
| MAexp100: | 1.2506 | |
| Price / MA7: | +0.19% | |
| Price / MA20: | +0.27% | |
| Price / MA50: | -0.63% | |
| Price / MA100: | -0.87% | |
| Price / MAexp7: | +0.03% | |
| Price / MAexp20: | +0.13% | |
| Price / MAexp50: | +0.18% | |
| Price / MAexp100: | +0.23% |
Quotes :
-
Real time data
-
Forex
News
The last news published on GBP/USD at the time of the generation of this analysis was as follows:
-
GBP/USD Forecast May 2, 2024
-
GBP/USD April 24 Forecast
-
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
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
Add a comment
Comments
0 comments on the analysis GBP/USD - 1H