EUR/GBP - 1H - Technical analysis published on 04/24/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Court terme:
Neutral
De fond:
Bearish
Technical indicators
67%
0%
33%
My opinion
Bearish under 0.8761 GBP
My targets
0.8709 GBP (-0.0023)
0.8683 GBP (-0.0049)
My analysis
Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers” generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 0.8761 GBP remains possible. It is advisable to trade EUR/GBP with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 0.8761 GBP. The next bearish objective for sellers is set at 0.8709 GBP. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 0.8683 GBP. In case of crossing, the next objective would be the support located at 0.8634 GBP. PS: if there is a bullish break in the resistance located at 0.8761 GBP we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
FORCE
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10
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
EUR/GBP rating 0.8732 GBP. On the day, this instrument gained +0.10% and was traded between 0.8712 GBP and 0.8742 GBP over the period. The price is currently at +0.23% from its lowest and -0.11% from its highest.0.8712
0.8742
0.8732
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of EUR/GBP indicates that the overall trend is bearish. The signals given by moving averages are 64.29% bearish. This bearish trend could slow down given the neutral signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, 12 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
The Central Candlesticks scanner currently notes the presence of this pattern in Japanese candlesticks that could mark the end of the short-term trend currently underway:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.8683 | 0.8709 | 0.8730 | 0.8732 | 0.8761 | 0.8838 | 0.8864 |
| Change (%) | -0.56% | -0.26% | -0.02% | - | +0.33% | +1.21% | +1.51% |
| Change | -0.0049 | -0.0023 | -0.0002 | - | +0.0029 | +0.0106 | +0.0132 |
| Level | Major | 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 | 0.8628 | 0.8668 | 0.8696 | 0.8736 | 0.8764 | 0.8804 | 0.8832 |
| Camarilla | 0.8704 | 0.8711 | 0.8717 | 0.8723 | 0.8729 | 0.8736 | 0.8742 |
| Woodie | 0.8621 | 0.8665 | 0.8689 | 0.8733 | 0.8757 | 0.8801 | 0.8825 |
| Fibonacci | 0.8668 | 0.8694 | 0.8710 | 0.8736 | 0.8762 | 0.8778 | 0.8804 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.8543 | 0.8613 | 0.8656 | 0.8726 | 0.8769 | 0.8839 | 0.8882 |
| Camarilla | 0.8669 | 0.8679 | 0.8690 | 0.8700 | 0.8710 | 0.8721 | 0.8731 |
| Woodie | 0.8531 | 0.8606 | 0.8644 | 0.8719 | 0.8757 | 0.8832 | 0.8870 |
| Fibonacci | 0.8613 | 0.8656 | 0.8683 | 0.8726 | 0.8769 | 0.8796 | 0.8839 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.7580 | 0.8087 | 0.8487 | 0.8994 | 0.9394 | 0.9901 | 1.0301 |
| Camarilla | 0.8638 | 0.8721 | 0.8804 | 0.8887 | 0.8970 | 0.9053 | 0.9136 |
| Woodie | 0.7527 | 0.8060 | 0.8434 | 0.8967 | 0.9341 | 0.9874 | 1.0248 |
| Fibonacci | 0.8087 | 0.8434 | 0.8648 | 0.8994 | 0.9341 | 0.9555 | 0.9901 |
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): | 51.48 | |
| MACD (12,26,9): | -0.0006 | |
| Directional Movement: | 4.7009 | |
| AROON (14): | 7.1429 | |
| DEMA (21): | 0.8719 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.8742 | |
| Elder Ray (13): | 0.0007 | |
| Super Trend (3,10): | 0.8752 | |
| Zig ZAG (10): | 0.8735 | |
| VORTEX (21): | 0.9706 | |
| Stochastique (14,3,5): | 72.22 | |
| TEMA (21): | 0.8724 | |
| Williams %R (14): | -20.00 | |
| Chande Momentum Oscillator (20): | 0.0009 | |
| Repulse (5,40,3): | 0.1111 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0166 | |
| Courbe Coppock: | 0.19 |
| MA7: | 0.8740 | |
| MA20: | 0.8775 | |
| MA50: | 0.8778 | |
| MA100: | 0.8626 | |
| MAexp7: | 0.8726 | |
| MAexp20: | 0.8730 | |
| MAexp50: | 0.8745 | |
| MAexp100: | 0.8750 | |
| Price / MA7: | -0.09% | |
| Price / MA20: | -0.49% | |
| Price / MA50: | -0.52% | |
| Price / MA100: | +1.23% | |
| Price / MAexp7: | +0.07% | |
| Price / MAexp20: | +0.02% | |
| Price / MAexp50: | -0.15% | |
| Price / MAexp100: | -0.21% |
News
The last news published on EUR/GBP at the time of the generation of this analysis was as follows:
-
GBP/USD, EUR/GBP and GBP/CAD Outlooks - UK Webinar
-
Weekly Technical Analysis: 17/03/2020 - USDJPY, EURGBP, GBPJPY
-
Weekly Technical Analysis: 04/03/2020 - US500 index (cash), EURUSD, EURGBP
-
Will EUR/GBP target 0.8200? – 13th February 2020
-
UK Weekly Webinar: GBP/USD, EUR/GBP and FTSE Eye BoE Decision
This member declared not having a position on this financial instrument or a related financial instrument.
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