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
67%
0%
33%
My opinion
Bullish above 1.2540 USD
My targets
1.2594 USD (+0.0035)
1.2633 USD (+0.0074)
My analysis
The bullish trend is currently very strong on GBP/USD. As long as the price remains above the support at 1.2540 USD, you could try to benefit from the boom. The first bullish objective is located at 1.2594 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 1.2633 USD as an objective. Crossing it would then enable buyers to target 1.2713 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.
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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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 1.2559 USD. The price has increased by +0.27% since the last closing with the lowest point at 1.2511 USD and the highest point at 1.2569 USD. The deviation from the price is +0.38% for the low point and -0.08% for the high point.1.2511
1.2569
1.2559
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
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. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed 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.
The technical indicators are bullish. There is still some doubt about the price increase.
Central Indicators, the scanner specialised in technical indicators, has identified this signal:
Pivot points : price is over resistance 1
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
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 | 1.2512 | 1.2540 | 1.2556 | 1.2559 | 1.2594 | 1.2633 | 1.2713 |
| Change (%) | -0.37% | -0.15% | -0.02% | - | +0.28% | +0.59% | +1.23% |
| Change | -0.0047 | -0.0019 | -0.0003 | - | +0.0035 | +0.0074 | +0.0154 |
| Level | Minor | Major | Major | - | Minor | Intermediate | 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 | 1.2465 | 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 is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 65.29 | |
| MACD (12,26,9): | 0.0009 | |
| Directional Movement: | 9.1958 | |
| AROON (14): | 42.8571 | |
| DEMA (21): | 1.2561 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2552 | |
| Elder Ray (13): | 0.0006 | |
| Super Trend (3,10): | 1.2531 | |
| Zig ZAG (10): | 1.2560 | |
| VORTEX (21): | 1.1860 | |
| Stochastique (14,3,5): | 79.17 | |
| TEMA (21): | 1.2564 | |
| Williams %R (14): | -23.26 | |
| Chande Momentum Oscillator (20): | 0.0025 | |
| Repulse (5,40,3): | 0.0321 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0102 | |
| Courbe Coppock: | 0.48 |
| MA7: | 1.2530 | |
| MA20: | 1.2489 | |
| MA50: | 1.2595 | |
| MA100: | 1.2635 | |
| MAexp7: | 1.2558 | |
| MAexp20: | 1.2549 | |
| MAexp50: | 1.2535 | |
| MAexp100: | 1.2528 | |
| Price / MA7: | +0.23% | |
| Price / MA20: | +0.56% | |
| Price / MA50: | -0.29% | |
| Price / MA100: | -0.60% | |
| Price / MAexp7: | +0.01% | |
| Price / MAexp20: | +0.08% | |
| Price / MAexp50: | +0.19% | |
| Price / MAexp100: | +0.25% |
Quotes :
-
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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