GBP/USD - 1H - Technical analysis published on 05/13/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
72%
6%
22%
My opinion
Bullish above 1.2540 USD
My targets
1.2594 USD (+0.0041)
1.2633 USD (+0.0080)
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 1.2540 USD. The buyers' bullish objective is set at 1.2594 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.2633 USD. If there is any crossing, the next objective would be the resistance located at 1.2713 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
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
8.2
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Additional analysis
Quotes
The GBP/USD price is 1.2553 USD. On the day, this instrument gained +0.22% and was traded between 1.2511 USD and 1.2569 USD over the period. The price is currently at +0.34% from its lowest and -0.13% from its highest.1.2511
1.2569
1.2553
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
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 strongly bullish. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 13 technical indicators on 18 studied are currently bullish. Central Indicators, the detector scanner for these technical indicators recently detected a signal:
Pivot points : price is over resistance 1
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
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.2490 | 1.2512 | 1.2540 | 1.2553 | 1.2556 | 1.2594 | 1.2633 |
| Change (%) | -0.50% | -0.33% | -0.10% | - | +0.02% | +0.33% | +0.64% |
| Change | -0.0063 | -0.0041 | -0.0013 | - | +0.0003 | +0.0041 | +0.0080 |
| Level | Minor | Minor | Major | - | Major | Minor | Intermediate |
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 | 1.2465 | 1.2484 | 1.2504 | 1.2523 | 1.2543 | 1.2562 | 1.2582 |
| Camarilla | 1.2514 | 1.2518 | 1.2521 | 1.2525 | 1.2529 | 1.2532 | 1.2536 |
| Woodie | 1.2467 | 1.2484 | 1.2506 | 1.2523 | 1.2545 | 1.2562 | 1.2584 |
| Fibonacci | 1.2484 | 1.2499 | 1.2508 | 1.2523 | 1.2538 | 1.2547 | 1.2562 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2301 | 1.2374 | 1.2449 | 1.2522 | 1.2597 | 1.2670 | 1.2745 |
| Camarilla | 1.2484 | 1.2498 | 1.2511 | 1.2525 | 1.2539 | 1.2552 | 1.2566 |
| Woodie | 1.2303 | 1.2375 | 1.2451 | 1.2523 | 1.2599 | 1.2671 | 1.2747 |
| Fibonacci | 1.2374 | 1.2430 | 1.2465 | 1.2522 | 1.2578 | 1.2613 | 1.2670 |
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): | 61.78 | |
| MACD (12,26,9): | 0.0010 | |
| Directional Movement: | 10.3357 | |
| AROON (14): | 50.0000 | |
| DEMA (21): | 1.2554 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2538 | |
| Elder Ray (13): | 0.0011 | |
| Super Trend (3,10): | 1.2527 | |
| Zig ZAG (10): | 1.2555 | |
| VORTEX (21): | 1.1892 | |
| Stochastique (14,3,5): | 80.77 | |
| TEMA (21): | 1.2560 | |
| Williams %R (14): | -28.85 | |
| Chande Momentum Oscillator (20): | 0.0026 | |
| Repulse (5,40,3): | -0.0131 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0079 | |
| Courbe Coppock: | 0.51 |
| MA7: | 1.2529 | |
| MA20: | 1.2489 | |
| MA50: | 1.2595 | |
| MA100: | 1.2635 | |
| MAexp7: | 1.2554 | |
| MAexp20: | 1.2542 | |
| MAexp50: | 1.2530 | |
| MAexp100: | 1.2525 | |
| Price / MA7: | +0.19% | |
| Price / MA20: | +0.51% | |
| Price / MA50: | -0.33% | |
| Price / MA100: | -0.65% | |
| Price / MAexp7: | -0.01% | |
| Price / MAexp20: | +0.09% | |
| Price / MAexp50: | +0.18% | |
| Price / MAexp100: | +0.22% |
Quotes :
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Real time data
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Forex
News
The latest news and videos published on GBP/USD at the time of the analysis were as follows:
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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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