GBP/USD - 1H - Technical analysis published on 05/16/2024 (GMT)
- 72
- 0
I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
17%
56%
28%
My opinion
Bullish above 1.2633 USD
My targets
1.2713 USD (+0.0058)
1.2835 USD (+0.0180)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on GBP/USD. As long as you are above the support located at 1.2633 USD, traders with an aggressive trading strategy could consider a purchase. A cross of the resistance located at 1.2713 USD would be a signal that the basic trade will reverse and the short-term trend could then quickly become bullish. Buyers would then use the next resistance located at 1.2835 USD as an objective. Crossing it would then enable buyers to target 1.3705 USD. If the support 1.2633 USD were to be broken, this would simply be a sign of a possible continuation of short-term consolidation and trading against the trend would then perhaps be more risky.
In the very short term, the general bullish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bullish direction is still favored, however the current short term bearish correction should be carefully watched.
Force
0
10
1.3
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This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
GBP/USD rating 1.2655 USD. On the day, this instrument lost -0.27% and was between 1.2654 USD and 1.2701 USD. This implies that the price is at +0.01% from its lowest and at -0.36% from its highest.1.2654
1.2701
1.2655
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of GBP/USD in 1H shows an overall bullish trend. 71.43% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, 10 technical indicators on 18 studied are currently bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
RSI indicator is back under 50
Type : Bearish
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact 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 | 1.2556 | 1.2593 | 1.2633 | 1.2655 | 1.2713 | 1.2835 | 1.3705 |
| Change (%) | -0.78% | -0.49% | -0.17% | - | +0.46% | +1.42% | +8.30% |
| Change | -0.0099 | -0.0062 | -0.0022 | - | +0.0058 | +0.0180 | +0.1050 |
| Level | Major | Intermediate | Minor | - | Minor | Major | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2506 | 1.2544 | 1.2617 | 1.2655 | 1.2728 | 1.2766 | 1.2839 |
| Camarilla | 1.2659 | 1.2669 | 1.2679 | 1.2689 | 1.2699 | 1.2709 | 1.2720 |
| Woodie | 1.2523 | 1.2553 | 1.2634 | 1.2664 | 1.2745 | 1.2775 | 1.2856 |
| Fibonacci | 1.2544 | 1.2587 | 1.2613 | 1.2655 | 1.2698 | 1.2724 | 1.2766 |
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 the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 47.79 | |
| MACD (12,26,9): | 0.0009 | |
| Directional Movement: | -0.4260 | |
| AROON (14): | -78.5714 | |
| DEMA (21): | 1.2683 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2688 | |
| Elder Ray (13): | -0.0013 | |
| Super Trend (3,10): | 1.2650 | |
| Zig ZAG (10): | 1.2656 | |
| VORTEX (21): | 1.0343 | |
| Stochastique (14,3,5): | 6.40 | |
| TEMA (21): | 1.2673 | |
| Williams %R (14): | -95.74 | |
| Chande Momentum Oscillator (20): | -0.0043 | |
| Repulse (5,40,3): | -0.1595 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0189 | |
| Courbe Coppock: | 0.24 |
| MA7: | 1.2576 | |
| MA20: | 1.2520 | |
| MA50: | 1.2589 | |
| MA100: | 1.2632 | |
| MAexp7: | 1.2668 | |
| MAexp20: | 1.2668 | |
| MAexp50: | 1.2638 | |
| MAexp100: | 1.2603 | |
| Price / MA7: | +0.63% | |
| Price / MA20: | +1.08% | |
| Price / MA50: | +0.52% | |
| Price / MA100: | +0.18% | |
| Price / MAexp7: | -0.10% | |
| Price / MAexp20: | -0.10% | |
| Price / MAexp50: | +0.13% | |
| Price / MAexp100: | +0.41% |
Quotes :
-
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 16, 2024
-
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
This member declared not having a position on this financial instrument or a related financial instrument.
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