GBP/HKD - Daily - Technical analysis published on 01/11/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
72%
6%
22%
My opinion
Bullish above 9.337 HKD
My targets
9.653 HKD (+0.166)
9.858 HKD (+0.371)
My analysis
The basic bullish trend is very strong on GBP/HKD but the short term shows some signs of running out of steam. However, a purchase could be considered as long as the price remains above 9.337 HKD. Crossing the first resistance at 9.653 HKD would be a sign of a potential new surge in the price. Buyers would then use the next resistance located at 9.858 HKD as an objective. Crossing it would then enable buyers to target 10.307 HKD. Caution, a return to below 9.337 HKD would be a sign of a consolidation phase in the short-term basic trend. 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.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
7.5
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
GBP/HKD rating 9.487 HKD. The price registered a decrease of -0.03% on the session with the lowest point at 9.453 HKD and the highest point at 9.513 HKD. The deviation from the price is +0.36% for the low point and -0.27% for the high point.9.453
9.513
9.487
Here is a more detailed summary of the historical variations registered by GBP/HKD:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
The Central Volumes scanner notes the presence of abnormal volumes:
Abnormal volumes
Timeframe : 50 days
Technical
A technical analysis in Daily of this GBP/HKD chart shows a strongly bullish trend. The signals given by moving averages are 89.29% bullish. This strongly bullish trend seems to be running out of steam given the signals 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, 13 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : Daily
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal resistance
Type : Bearish
Timeframe : Daily
Resistance of channel is broken
Type : Bullish
Timeframe : Daily
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 : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 8.769 | 8.919 | 9.337 | 9.487 | 9.653 | 9.858 | 10.307 |
| Change (%) | -7.57% | -5.99% | -1.58% | - | +1.75% | +3.91% | +8.64% |
| Change | -0.718 | -0.568 | -0.150 | - | +0.166 | +0.371 | +0.820 |
| Level | Intermediate | Major | Major | - | Intermediate | Intermediate | Intermediate |
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 | 9.392 | 9.424 | 9.457 | 9.489 | 9.522 | 9.554 | 9.587 |
| Camarilla | 9.472 | 9.478 | 9.484 | 9.490 | 9.496 | 9.502 | 9.508 |
| Woodie | 9.393 | 9.424 | 9.458 | 9.489 | 9.523 | 9.554 | 9.588 |
| Fibonacci | 9.424 | 9.449 | 9.464 | 9.489 | 9.514 | 9.529 | 9.554 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 9.111 | 9.180 | 9.311 | 9.380 | 9.511 | 9.580 | 9.711 |
| Camarilla | 9.387 | 9.405 | 9.424 | 9.442 | 9.460 | 9.479 | 9.497 |
| Woodie | 9.142 | 9.196 | 9.342 | 9.396 | 9.542 | 9.596 | 9.742 |
| Fibonacci | 9.180 | 9.256 | 9.304 | 9.380 | 9.456 | 9.504 | 9.580 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.975 | 9.163 | 9.299 | 9.487 | 9.623 | 9.811 | 9.947 |
| Camarilla | 9.345 | 9.375 | 9.404 | 9.434 | 9.464 | 9.493 | 9.523 |
| Woodie | 8.948 | 9.150 | 9.272 | 9.474 | 9.596 | 9.798 | 9.920 |
| Fibonacci | 9.163 | 9.287 | 9.364 | 9.487 | 9.611 | 9.688 | 9.811 |
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): | 54.90 | |
| MACD (12,26,9): | 0.0190 | |
| Directional Movement: | -4.548 | |
| AROON (14): | 7.143 | |
| DEMA (21): | 9.462 | |
| Parabolic SAR (0,02-0,02-0,2): | 9.255 | |
| Elder Ray (13): | 0.044 | |
| Super Trend (3,10): | 9.293 | |
| Zig ZAG (10): | 9.487 | |
| VORTEX (21): | 0.9660 | |
| Stochastique (14,3,5): | 87.66 | |
| TEMA (21): | 9.430 | |
| Williams %R (14): | -15.66 | |
| Chande Momentum Oscillator (20): | 0.054 | |
| Repulse (5,40,3): | 0.7660 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0210 | |
| Courbe Coppock: | 0.09 |
| MA7: | 9.429 | |
| MA20: | 9.426 | |
| MA50: | 9.369 | |
| MA100: | 9.144 | |
| MAexp7: | 9.452 | |
| MAexp20: | 9.432 | |
| MAexp50: | 9.357 | |
| MAexp100: | 9.324 | |
| Price / MA7: | +0.62% | |
| Price / MA20: | +0.65% | |
| Price / MA50: | +1.26% | |
| Price / MA100: | +3.75% | |
| Price / MAexp7: | +0.37% | |
| Price / MAexp20: | +0.58% | |
| Price / MAexp50: | +1.39% | |
| Price / MAexp100: | +1.75% |
Quotes :
-
Real time data
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Forex
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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