GBP/USD - 1H - Technical analysis published on 05/03/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 1.2534 USD
My targets
1.2570 USD (+0.0016)
1.2675 USD (+0.0121)
My analysis
The bullish trend is currently very strong on GBP/USD. As long as the price remains above the support at 1.2534 USD, you could try to benefit from the boom. 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. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. 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, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.6
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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 1.2554 USD. On the day, this instrument gained +0.12% with the lowest point at 1.2531 USD and the highest point at 1.2557 USD. The deviation from the price is +0.18% for the low point and -0.02% for the high point.1.2531
1.2557
1.2554
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
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
A technical analysis in 1H of this GBP/USD chart shows a strongly bullish trend. The signals given by the moving averages are 89.29% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, according to the parameters integrated into the Central Analyzer system, 16 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.2418 | 1.2466 | 1.2534 | 1.2554 | 1.2570 | 1.2675 | 1.2835 |
| Change (%) | -1.08% | -0.70% | -0.16% | - | +0.13% | +0.96% | +2.24% |
| Change | -0.0136 | -0.0088 | -0.0020 | - | +0.0016 | +0.0121 | +0.0281 |
| Level | Intermediate | Major | Major | - | Minor | Intermediate | 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 | 1.2419 | 1.2446 | 1.2492 | 1.2519 | 1.2565 | 1.2592 | 1.2638 |
| Camarilla | 1.2519 | 1.2526 | 1.2532 | 1.2539 | 1.2546 | 1.2552 | 1.2559 |
| Woodie | 1.2430 | 1.2451 | 1.2503 | 1.2524 | 1.2576 | 1.2597 | 1.2649 |
| Fibonacci | 1.2446 | 1.2474 | 1.2491 | 1.2519 | 1.2547 | 1.2564 | 1.2592 |
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): | 65.55 | |
| MACD (12,26,9): | 0.0010 | |
| Directional Movement: | 6.6279 | |
| AROON (14): | 78.5714 | |
| DEMA (21): | 1.2542 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2504 | |
| Elder Ray (13): | 0.0018 | |
| Super Trend (3,10): | 1.2514 | |
| Zig ZAG (10): | 1.2557 | |
| VORTEX (21): | 1.0665 | |
| Stochastique (14,3,5): | 97.92 | |
| TEMA (21): | 1.2548 | |
| Williams %R (14): | -1.18 | |
| Chande Momentum Oscillator (20): | 0.0072 | |
| Repulse (5,40,3): | 0.1530 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0069 | |
| Courbe Coppock: | 0.50 |
| MA7: | 1.2525 | |
| MA20: | 1.2497 | |
| MA50: | 1.2612 | |
| MA100: | 1.2645 | |
| MAexp7: | 1.2544 | |
| MAexp20: | 1.2531 | |
| MAexp50: | 1.2521 | |
| MAexp100: | 1.2513 | |
| Price / MA7: | +0.23% | |
| Price / MA20: | +0.46% | |
| Price / MA50: | -0.46% | |
| Price / MA100: | -0.72% | |
| Price / MAexp7: | +0.08% | |
| Price / MAexp20: | +0.18% | |
| Price / MAexp50: | +0.26% | |
| Price / MAexp100: | +0.33% |
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:
-
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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