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
61%
0%
39%
My opinion
Bullish above 1.2490 USD
My targets
1.2556 USD (+0.0027)
1.2594 USD (+0.0065)
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 1.2490 USD. The buyers' bullish objective is set at 1.2556 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.2594 USD. If there is any crossing, the next objective would be the resistance located at 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
6.1
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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 1.2529 USD. The price has increased by +0.04% since the last closing and was between 1.2512 USD and 1.2541 USD. This implies that the price is at +0.14% from its lowest and at -0.10% from its highest.1.2512
1.2541
1.2529
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by GBP/USD:
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. The signals returned by the moving averages are 71.43% bullish. This bullish trend is reinforced by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, 11 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
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 | 1.2466 | 1.2490 | 1.2519 | 1.2529 | 1.2556 | 1.2594 | 1.2633 |
| Change (%) | -0.50% | -0.31% | -0.08% | - | +0.22% | +0.52% | +0.83% |
| Change | -0.0063 | -0.0039 | -0.0010 | - | +0.0027 | +0.0065 | +0.0104 |
| Level | Major | Intermediate | Minor | - | Major | Minor | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2386 | 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 is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 61.75 | |
| MACD (12,26,9): | 0.0008 | |
| Directional Movement: | 10.2422 | |
| AROON (14): | 28.5714 | |
| DEMA (21): | 1.2530 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2518 | |
| Elder Ray (13): | 0.0008 | |
| Super Trend (3,10): | 1.2499 | |
| Zig ZAG (10): | 1.2532 | |
| VORTEX (21): | 1.2468 | |
| Stochastique (14,3,5): | 65.52 | |
| TEMA (21): | 1.2534 | |
| Williams %R (14): | -34.48 | |
| Chande Momentum Oscillator (20): | 0.0009 | |
| Repulse (5,40,3): | 0.0313 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0089 | |
| Courbe Coppock: | 0.17 |
| MA7: | 1.2528 | |
| MA20: | 1.2484 | |
| MA50: | 1.2598 | |
| MA100: | 1.2636 | |
| MAexp7: | 1.2528 | |
| MAexp20: | 1.2520 | |
| MAexp50: | 1.2513 | |
| MAexp100: | 1.2516 | |
| Price / MA7: | +0.01% | |
| Price / MA20: | +0.36% | |
| Price / MA50: | -0.55% | |
| Price / MA100: | -0.85% | |
| Price / MAexp7: | +0.01% | |
| Price / MAexp20: | +0.07% | |
| Price / MAexp50: | +0.13% | |
| Price / MAexp100: | +0.10% |
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:
-
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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