GBP/USD - 1H - Technical analysis published on 05/02/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
61%
17%
22%
My opinion
Bullish above 1.2466 USD
My targets
1.2570 USD (+0.0045)
1.2675 USD (+0.0150)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on GBP/USD as long as the price remains well above 1.2466 USD. The buyers' bullish objective is set at 1.2570 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.2675 USD. If there is any crossing, the next objective would be the resistance located at 1.2835 USD. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible overbought items that could be a sign of a possible short-term correction.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
6.4
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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 rating is 1.2525 USD. The price registered a decrease of -0.09% on the session and was traded between 1.2472 USD and 1.2545 USD over the period. The price is currently at +0.42% from its lowest and -0.16% from its highest.1.2472
1.2545
1.2525
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 HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this GBP/USD chart shows a strongly 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 market scanner is currently detecting a bullish signal that could impact this trend:
Bullish trend reversal : Moving Average 50
Type : Bullish
Timeframe : 1 hour
The probability of a further increase are moderate given the direction of the technical indicators.
Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : 1 hour
Ichimoku : price is over the cloud
Type : Bullish
Timeframe : 1 hour
MACD indicator is back over 0
Type : Bullish
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 | 1.2350 | 1.2418 | 1.2466 | 1.2525 | 1.2534 | 1.2570 | 1.2675 |
| Change (%) | -1.40% | -0.85% | -0.47% | - | +0.07% | +0.36% | +1.20% |
| Change | -0.0175 | -0.0107 | -0.0059 | - | +0.0009 | +0.0045 | +0.0150 |
| Level | Major | Major | Major | - | Intermediate | Intermediate | Intermediate |
Attention could also be paid to pivot points to set price objectives:
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 is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 53.72 | |
| MACD (12,26,9): | 0.0000 | |
| Directional Movement: | 4.8915 | |
| AROON (14): | -50.0000 | |
| DEMA (21): | 1.2515 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2473 | |
| Elder Ray (13): | 0.0008 | |
| Super Trend (3,10): | 1.2541 | |
| Zig ZAG (10): | 1.2522 | |
| VORTEX (21): | 1.0118 | |
| Stochastique (14,3,5): | 66.67 | |
| TEMA (21): | 1.2515 | |
| Williams %R (14): | -31.51 | |
| Chande Momentum Oscillator (20): | -0.0001 | |
| Repulse (5,40,3): | 0.0788 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0022 | |
| Courbe Coppock: | 0.32 |
| MA7: | 1.2510 | |
| MA20: | 1.2500 | |
| MA50: | 1.2614 | |
| MA100: | 1.2645 | |
| MAexp7: | 1.2515 | |
| MAexp20: | 1.2514 | |
| MAexp50: | 1.2513 | |
| MAexp100: | 1.2507 | |
| Price / MA7: | +0.12% | |
| Price / MA20: | +0.20% | |
| Price / MA50: | -0.71% | |
| Price / MA100: | -0.95% | |
| Price / MAexp7: | +0.08% | |
| Price / MAexp20: | +0.09% | |
| Price / MAexp50: | +0.10% | |
| Price / MAexp100: | +0.14% |
Quotes :
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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:
-
GBP/USD Forecast May 3, 2024
-
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
This member declared not having a position on this financial instrument or a related financial instrument.
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