GBP/USD - 1H - Technical analysis published on 05/17/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Slightly bullish
Technical indicators
17%
61%
22%
My opinion
Bearish under 1.2680 USD
My targets
1.2633 USD (-0.0015)
1.2556 USD (-0.0092)
My analysis
The current short-term bearish trend is expected to quickly reset the neutral or bearish trend. To avoid contradicting the short term, it would be possible to favour short positions (for sale) for GBP/USD as long as the price remains well below 1.2680 USD. The next bearish objective for sellers is set at 1.2633 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 1.2556 USD. In case of crossing, the next objective would be the support located at 1.2503 USD. As the basic trend is not clearly displayed, attention should be paid to the price response to the support located at 1.2633 USD. With this support, against the trend traders who want to buy GBP/USD on a buy signal from their trading strategy should not hesitate to act.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
1.8
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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 1.2648 USD. The price registered a decrease of -0.18% on the session and was between 1.2645 USD and 1.2672 USD. This implies that the price is at +0.02% from its lowest and at -0.19% from its highest.1.2645
1.2672
1.2648
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
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this GBP/USD chart shows a slightly bullish trend. 57.14% of the signals given by moving averages are bullish. Caution: a reversal of the trend could be possible given the strong bearish signals of short-term moving averages. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Bearish price crossover with adaptative moving average 100
Type : Bearish
Timeframe : 1 hour
Technical indicators are bearish. There is still some doubt about the decline in the price.
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
Parabolic SAR indicator bearish reversal
Type : Bearish
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 support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.2503 | 1.2556 | 1.2633 | 1.2648 | 1.2680 | 1.2713 | 1.2835 |
| Change (%) | -1.15% | -0.73% | -0.12% | - | +0.25% | +0.51% | +1.48% |
| Change | -0.0145 | -0.0092 | -0.0015 | - | +0.0032 | +0.0065 | +0.0187 |
| Level | Intermediate | Major | Intermediate | - | Intermediate | Intermediate | Major |
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 | 1.2584 | 1.2614 | 1.2642 | 1.2672 | 1.2700 | 1.2730 | 1.2758 |
| Camarilla | 1.2655 | 1.2660 | 1.2666 | 1.2671 | 1.2676 | 1.2682 | 1.2687 |
| Woodie | 1.2584 | 1.2614 | 1.2642 | 1.2672 | 1.2700 | 1.2730 | 1.2758 |
| Fibonacci | 1.2614 | 1.2636 | 1.2650 | 1.2672 | 1.2694 | 1.2708 | 1.2730 |
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): | 39.60 | |
| MACD (12,26,9): | -0.0002 | |
| Directional Movement: | -6.9746 | |
| AROON (14): | -100.0000 | |
| DEMA (21): | 1.2661 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2680 | |
| Elder Ray (13): | -0.0008 | |
| Super Trend (3,10): | 1.2682 | |
| Zig ZAG (10): | 1.2647 | |
| VORTEX (21): | 0.9575 | |
| Stochastique (14,3,5): | 24.56 | |
| TEMA (21): | 1.2652 | |
| Williams %R (14): | -93.55 | |
| Chande Momentum Oscillator (20): | -0.0023 | |
| Repulse (5,40,3): | -0.1537 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0006 | |
| Courbe Coppock: | 0.21 |
| MA7: | 1.2600 | |
| MA20: | 1.2534 | |
| MA50: | 1.2585 | |
| MA100: | 1.2631 | |
| MAexp7: | 1.2657 | |
| MAexp20: | 1.2662 | |
| MAexp50: | 1.2652 | |
| MAexp100: | 1.2624 | |
| Price / MA7: | +0.38% | |
| Price / MA20: | +0.91% | |
| Price / MA50: | +0.50% | |
| Price / MA100: | +0.13% | |
| Price / MAexp7: | -0.06% | |
| Price / MAexp20: | -0.10% | |
| Price / MAexp50: | -0.02% | |
| Price / MAexp100: | +0.20% |
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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GBP/USD Forecast May 17, 2024
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GBP/USD Forecast May 16, 2024
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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
This member declared not having a position on this financial instrument or a related financial instrument.
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