GBP/MXN - Daily - Technical analysis published on 06/22/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
67%
0%
33%
My opinion
Bearish under 22.3148 MXN
My targets
21.6009 MXN (-0.2787)
21.2969 MXN (-0.5827)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on GBP/MXN. As long as you are under the resistance located at 22.3148 MXN, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 21.6009 MXN would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 21.2969 MXN as an objective. Crossing it would then enable sellers to target 20.4082 MXN. If the resistance 22.3148 MXN were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
Technical indicators are opposing the general bearish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
1.1
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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/MXN rating 21.8796 MXN. The price has increased by +0.00% since the last closing and was traded between 21.8692 MXN and 21.8863 MXN over the period. The price is currently at +0.05% from its lowest and -0.03% from its highest.21.8692
21.8863
21.8796
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
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
Technical analysis of this Daily chart of GBP/MXN indicates that the overall trend is bearish. 75.00% of the signals given by moving averages are bearish. Caution: as the signals currently given by short-term moving averages are rather neutral, the bearish trend could slow down. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The probability of a further increase are moderate given the direction of the technical indicators.
The Central Indicators scanner specialised in technical indicators, has not detected anything further.
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
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 | 21.2969 | 21.6009 | 21.8646 | 21.8796 | 22.3148 | 22.9650 | 23.5480 |
| Change (%) | -2.66% | -1.27% | -0.07% | - | +1.99% | +4.96% | +7.63% |
| Change | -0.5827 | -0.2787 | -0.0150 | - | +0.4352 | +1.0854 | +1.6684 |
| Level | Minor | Major | Major | - | Intermediate | Major | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 21.4855 | 21.6373 | 21.7586 | 21.9104 | 22.0317 | 22.1835 | 22.3048 |
| Camarilla | 21.8047 | 21.8297 | 21.8548 | 21.8798 | 21.9048 | 21.9299 | 21.9549 |
| Woodie | 21.4702 | 21.6297 | 21.7433 | 21.9028 | 22.0164 | 22.1759 | 22.2895 |
| Fibonacci | 21.6373 | 21.7417 | 21.8061 | 21.9104 | 22.0148 | 22.0792 | 22.1835 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 21.2461 | 21.4245 | 21.6683 | 21.8467 | 22.0905 | 22.2689 | 22.5127 |
| Camarilla | 21.7960 | 21.8347 | 21.8734 | 21.9121 | 21.9508 | 21.9895 | 22.0282 |
| Woodie | 21.2788 | 21.4409 | 21.7010 | 21.8631 | 22.1232 | 22.2853 | 22.5454 |
| Fibonacci | 21.4245 | 21.5858 | 21.6854 | 21.8467 | 22.0080 | 22.1076 | 22.2689 |
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 technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 48.47 | |
| MACD (12,26,9): | -0.0570 | |
| Directional Movement: | 1.3087 | |
| AROON (14): | 71.4285 | |
| DEMA (21): | 21.7767 | |
| Parabolic SAR (0,02-0,02-0,2): | 21.6265 | |
| Elder Ray (13): | 0.0258 | |
| Super Trend (3,10): | 22.2355 | |
| Zig ZAG (10): | 21.8798 | |
| VORTEX (21): | 0.9693 | |
| Stochastique (14,3,5): | 71.62 | |
| TEMA (21): | 21.8261 | |
| Williams %R (14): | -34.53 | |
| Chande Momentum Oscillator (20): | 0.2790 | |
| Repulse (5,40,3): | 0.0362 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0661 | |
| Courbe Coppock: | 0.09 |
| MA7: | 21.8719 | |
| MA20: | 21.8117 | |
| MA50: | 22.0977 | |
| MA100: | 22.2570 | |
| MAexp7: | 21.8648 | |
| MAexp20: | 21.8752 | |
| MAexp50: | 22.0507 | |
| MAexp100: | 22.3093 | |
| Price / MA7: | +0.04% | |
| Price / MA20: | +0.31% | |
| Price / MA50: | -0.99% | |
| Price / MA100: | -1.70% | |
| Price / MAexp7: | +0.07% | |
| Price / MAexp20: | +0.02% | |
| Price / MAexp50: | -0.78% | |
| Price / MAexp100: | -1.93% |
Quotes :
-
Real time data
-
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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