GBP/MXN - 1H - Technical analysis published on 08/28/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
39%
11%
50%
My opinion
Bullish above 29.1370 MXN
My targets
29.3158 MXN (+0.0830)
29.4124 MXN (+0.1796)
My analysis
The bullish trend is currently very strong on GBP/MXN. As long as the price remains above the support at 29.1370 MXN, you could try to benefit from the boom. The first bullish objective is located at 29.3158 MXN. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 29.4124 MXN as an objective. Crossing it would then enable buyers to target 29.6280 MXN. 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
7
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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
The GBP/MXN price is 29.2328 MXN. On the day, this instrument gained +0.05% and was between 29.1947 MXN and 29.2997 MXN. This implies that the price is at +0.13% from its lowest and at -0.23% from its highest.29.1947
29.2997
29.2328
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
Here is a more detailed summary of the historical variations registered by GBP/MXN:
Technical
A technical analysis in 1H of this GBP/MXN chart shows a strongly bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals 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, only 7 technical indicators out of 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 : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Horizontal resistance 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 | 28.9060 | 29.0253 | 29.1370 | 29.2328 | 29.2400 | 29.3158 | 29.4124 |
| Change (%) | -1.12% | -0.71% | -0.33% | - | +0.02% | +0.28% | +0.61% |
| Change | -0.3268 | -0.2075 | -0.0958 | - | +0.0072 | +0.0830 | +0.1796 |
| Level | Intermediate | Minor | Minor | - | Minor | Intermediate | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 28.5149 | 28.6948 | 28.9559 | 29.1358 | 29.3969 | 29.5768 | 29.8379 |
| Camarilla | 29.0956 | 29.1361 | 29.1765 | 29.2169 | 29.2573 | 29.2978 | 29.3382 |
| Woodie | 28.5554 | 28.7151 | 28.9964 | 29.1561 | 29.4374 | 29.5971 | 29.8784 |
| Fibonacci | 28.6948 | 28.8633 | 28.9674 | 29.1358 | 29.3043 | 29.4084 | 29.5768 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 27.8222 | 28.2685 | 28.5199 | 28.9662 | 29.2176 | 29.6639 | 29.9153 |
| Camarilla | 28.5795 | 28.6435 | 28.7074 | 28.7714 | 28.8354 | 28.8993 | 28.9633 |
| Woodie | 27.7249 | 28.2198 | 28.4226 | 28.9175 | 29.1203 | 29.6152 | 29.8180 |
| Fibonacci | 28.2685 | 28.5350 | 28.6997 | 28.9662 | 29.2327 | 29.3973 | 29.6639 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 26.5801 | 27.1331 | 28.1406 | 28.6936 | 29.7011 | 30.2541 | 31.2616 |
| Camarilla | 28.7189 | 28.8619 | 29.0050 | 29.1480 | 29.2911 | 29.4341 | 29.5771 |
| Woodie | 26.8073 | 27.2467 | 28.3678 | 28.8072 | 29.9283 | 30.3677 | 31.4888 |
| Fibonacci | 27.1331 | 27.7292 | 28.0975 | 28.6936 | 29.2898 | 29.6580 | 30.2541 |
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): | 62.79 | |
| MACD (12,26,9): | 0.0636 | |
| Directional Movement: | 12.7881 | |
| AROON (14): | -7.1429 | |
| DEMA (21): | 29.2773 | |
| Parabolic SAR (0,02-0,02-0,2): | 29.1864 | |
| Elder Ray (13): | 0.0354 | |
| Super Trend (3,10): | 29.0853 | |
| Zig ZAG (10): | 29.2664 | |
| VORTEX (21): | 1.1632 | |
| Stochastique (14,3,5): | 69.57 | |
| TEMA (21): | 29.2817 | |
| Williams %R (14): | -51.24 | |
| Chande Momentum Oscillator (20): | -0.0055 | |
| Repulse (5,40,3): | 0.0445 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0362 | |
| Courbe Coppock: | 1.00 |
| MA7: | 28.9976 | |
| MA20: | 29.1619 | |
| MA50: | 28.6878 | |
| MA100: | 28.7890 | |
| MAexp7: | 29.2381 | |
| MAexp20: | 29.1901 | |
| MAexp50: | 29.0779 | |
| MAexp100: | 29.0071 | |
| Price / MA7: | +0.81% | |
| Price / MA20: | +0.24% | |
| Price / MA50: | +1.90% | |
| Price / MA100: | +1.54% | |
| Price / MAexp7: | -0.02% | |
| Price / MAexp20: | +0.15% | |
| Price / MAexp50: | +0.53% | |
| Price / MAexp100: | +0.78% |
Quotes :
2020-08-28 06:13:36
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Real time data
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Forex
This member declared not having a position on this financial instrument or a related financial instrument.
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