GBP/USD - 1H - Technical analysis published on 05/10/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
50%
6%
44%
My opinion
Bullish above 1.2490 USD
My targets
1.2556 USD (+0.0037)
1.2594 USD (+0.0075)
My analysis
GBP/USD is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 1.2490 USD. The next resistance located at 1.2556 USD is the next bullish target to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 1.2594 USD. After this resistance, buyers could then target 1.2633 USD.
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
4.6
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This analysis was given by GCrow. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GBP/USD price is 1.2519 USD. The price registered a decrease of -0.04% on the session with the lowest point at 1.2512 USD and the highest point at 1.2526 USD. The deviation from the price is +0.06% for the low point and -0.06% for the high point.1.2512
1.2526
1.2519
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
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
Technical analysis of GBP/USD in 1H shows an overall bullish trend. 64.29% of the signals given by moving averages are bullish. The overall trend is reinforced by the strong bullish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
Technical indicators are slightly bullish. There is therefore considerable uncertainty about the continuation of the increase.
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 triangle
Type : Bearish
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 | R1 | Price | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.2446 | 1.2466 | 1.2490 | 1.2519 | 1.2519 | 1.2556 | 1.2594 |
| Change (%) | -0.58% | -0.42% | -0.23% | 0% | - | +0.30% | +0.60% |
| Change | -0.0073 | -0.0053 | -0.0029 | 0 | - | +0.0037 | +0.0075 |
| Level | Minor | Major | Intermediate | Minor | - | Major | Minor |
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 | 1.2386 | 1.2416 | 1.2470 | 1.2500 | 1.2554 | 1.2584 | 1.2638 |
| Camarilla | 1.2501 | 1.2509 | 1.2516 | 1.2524 | 1.2532 | 1.2539 | 1.2547 |
| Woodie | 1.2398 | 1.2422 | 1.2482 | 1.2506 | 1.2566 | 1.2590 | 1.2650 |
| Fibonacci | 1.2416 | 1.2448 | 1.2468 | 1.2500 | 1.2532 | 1.2552 | 1.2584 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2295 | 1.2380 | 1.2464 | 1.2549 | 1.2633 | 1.2718 | 1.2802 |
| Camarilla | 1.2501 | 1.2516 | 1.2532 | 1.2547 | 1.2563 | 1.2578 | 1.2594 |
| Woodie | 1.2294 | 1.2380 | 1.2463 | 1.2549 | 1.2632 | 1.2718 | 1.2801 |
| Fibonacci | 1.2380 | 1.2445 | 1.2485 | 1.2549 | 1.2614 | 1.2654 | 1.2718 |
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): | 56.43 | |
| MACD (12,26,9): | 0.0006 | |
| Directional Movement: | 0.8482 | |
| AROON (14): | 50.0000 | |
| DEMA (21): | 1.2520 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2514 | |
| Elder Ray (13): | 0 | |
| Super Trend (3,10): | 1.2489 | |
| Zig ZAG (10): | 1.2518 | |
| VORTEX (21): | 1.1493 | |
| Stochastique (14,3,5): | 55.77 | |
| TEMA (21): | 1.2525 | |
| Williams %R (14): | -44.44 | |
| Chande Momentum Oscillator (20): | 0.0003 | |
| Repulse (5,40,3): | 0.0248 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0080 | |
| Courbe Coppock: | 0.28 |
| MA7: | 1.2526 | |
| MA20: | 1.2483 | |
| MA50: | 1.2598 | |
| MA100: | 1.2636 | |
| MAexp7: | 1.2518 | |
| MAexp20: | 1.2513 | |
| MAexp50: | 1.2509 | |
| MAexp100: | 1.2514 | |
| Price / MA7: | -0.06% | |
| Price / MA20: | +0.29% | |
| Price / MA50: | -0.63% | |
| Price / MA100: | -0.93% | |
| Price / MAexp7: | +0.01% | |
| Price / MAexp20: | +0.05% | |
| Price / MAexp50: | +0.08% | |
| Price / MAexp100: | +0.04% |
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:
-
Weekly Technical Outlook: 08/05/2024 - USDJPY, GBPUSD, USDCAD
-
GBP/USD Forecast May 3, 2024
-
GBP/USD Forecast May 2, 2024
-
GBP/USD April 24 Forecast
-
GBP/USD Forecast April 22, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
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