GBP/MXN - Daily - Technical analysis published on 06/06/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
11%
67%
22%
My opinion
Bearish under 21.8646 MXN
My targets
21.2969 MXN (-0.4175)
20.4082 MXN (-1.3062)
My analysis
GBP/MXN is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 21.8646 MXN. The next support located at 21.2969 MXN is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 20.4082 MXN. Below this support, sellers could then target 18.4626 MXN. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
7.9
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GBP/MXN rating is 21.7144 MXN. The price has increased by +0.00% since the last closing and was between 21.7032 MXN and 21.7376 MXN. This implies that the price is at +0.05% from its lowest and at -0.11% from its highest.21.7032
21.7376
21.7144
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
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 (5 years)
Type : Bearish
Timeframe : Weekly
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 HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in Daily of this GBP/MXN chart shows a sharp bearish trend. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The probability of a further decline is moderate given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
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 : Daily
Near support of channel
Type : Bullish
Timeframe : Daily
Near support of triangle
Type : Bullish
Timeframe : Daily
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects these bullish signals that could support the hypothesis of a small rebound in the very short term:
Bullish harami
Type : Bullish
Timeframe : Daily
Bullish harami cross
Type : Bullish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 18.4626 | 20.4082 | 21.2969 | 21.7144 | 21.8646 | 22.3148 | 22.9650 |
| Change (%) | -14.98% | -6.02% | -1.92% | - | +0.69% | +2.76% | +5.76% |
| Change | -3.2518 | -1.3062 | -0.4175 | - | +0.1502 | +0.6004 | +1.2506 |
| Level | Intermediate | Minor | Minor | - | Major | Intermediate | Major |
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 | 21.3917 | 21.5215 | 21.6181 | 21.7479 | 21.8445 | 21.9743 | 22.0709 |
| Camarilla | 21.6524 | 21.6732 | 21.6940 | 21.7147 | 21.7355 | 21.7562 | 21.7770 |
| Woodie | 21.3751 | 21.5132 | 21.6015 | 21.7396 | 21.8279 | 21.9660 | 22.0543 |
| Fibonacci | 21.5215 | 21.6080 | 21.6614 | 21.7479 | 21.8344 | 21.8878 | 21.9743 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 21.2774 | 21.4672 | 21.6653 | 21.8551 | 22.0532 | 22.2430 | 22.4411 |
| Camarilla | 21.7566 | 21.7922 | 21.8277 | 21.8633 | 21.8989 | 21.9344 | 21.9700 |
| Woodie | 21.2815 | 21.4693 | 21.6694 | 21.8572 | 22.0573 | 22.2451 | 22.4452 |
| Fibonacci | 21.4672 | 21.6154 | 21.7070 | 21.8551 | 22.0033 | 22.0949 | 22.2430 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 20.5094 | 21.0833 | 21.5480 | 22.1219 | 22.5866 | 23.1605 | 23.6252 |
| Camarilla | 21.7272 | 21.8224 | 21.9176 | 22.0128 | 22.1080 | 22.2032 | 22.2984 |
| Woodie | 20.4549 | 21.0560 | 21.4935 | 22.0946 | 22.5321 | 23.1332 | 23.5707 |
| Fibonacci | 21.0833 | 21.4800 | 21.7251 | 22.1219 | 22.5186 | 22.7637 | 23.1605 |
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): | 37.48 | |
| MACD (12,26,9): | -0.1401 | |
| Directional Movement: | -11.0320 | |
| AROON (14): | -57.1428 | |
| DEMA (21): | 21.8109 | |
| Parabolic SAR (0,02-0,02-0,2): | 22.2158 | |
| Elder Ray (13): | -0.1965 | |
| Super Trend (3,10): | 22.3322 | |
| Zig ZAG (10): | 21.7206 | |
| VORTEX (21): | 0.8533 | |
| Stochastique (14,3,5): | 15.20 | |
| TEMA (21): | 21.7594 | |
| Williams %R (14): | -91.11 | |
| Chande Momentum Oscillator (20): | -0.4162 | |
| Repulse (5,40,3): | -0.6180 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0843 | |
| Courbe Coppock: | 1.73 |
| MA7: | 21.8518 | |
| MA20: | 21.9592 | |
| MA50: | 22.2744 | |
| MA100: | 22.4302 | |
| MAexp7: | 21.8406 | |
| MAexp20: | 21.9907 | |
| MAexp50: | 22.2011 | |
| MAexp100: | 22.4487 | |
| Price / MA7: | -0.63% | |
| Price / MA20: | -1.11% | |
| Price / MA50: | -2.51% | |
| Price / MA100: | -3.19% | |
| Price / MAexp7: | -0.58% | |
| Price / MAexp20: | -1.26% | |
| Price / MAexp50: | -2.19% | |
| Price / MAexp100: | -3.27% |
Quotes :
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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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