GBP/MXN - 1H - Technical analysis published on 01/14/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
28%
44%
28%
My opinion
Bearish under 24.5078 MXN
My targets
24.3552 MXN (-0.0426)
24.1714 MXN (-0.2264)
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 24.5078 MXN. The next support located at 24.3552 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 24.1714 MXN. Below this support, sellers could then target 23.7868 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 are neutral, but do not change the general bearish opinion of this analysis.
FORCE
0
10
6.6
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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
GBP/MXN rating 24.3978 MXN. On the day, this instrument lost -0.09% and was between 24.3884 MXN and 24.5195 MXN. This implies that the price is at +0.04% from its lowest and at -0.50% from its highest.24.3884
24.5195
24.3978
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
A technical analysis in 1H 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 is currently detecting several bearish signals that could impact this trend:
Bearish price crossover with Moving Average 50
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 5 are bullish, 5 are neutral and 8 are bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : 1 hour
RSI indicator is back under 50
Type : Bearish
Timeframe : 1 hour
Ichimoku : price is under the cloud
Type : Bearish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Horizontal support is broken
Type : Bearish
Timeframe : 1 hour
For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:
Bearish engulfing lines
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 23.1813 | 23.7868 | 24.3552 | 24.3978 | 24.5078 | 24.6194 | 24.7158 |
| Change (%) | -4.99% | -2.50% | -0.17% | - | +0.45% | +0.91% | +1.30% |
| Change | -1.2165 | -0.6110 | -0.0426 | - | +0.1100 | +0.2216 | +0.3180 |
| Level | Intermediate | Major | Major | - | Minor | 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 | 24.1456 | 24.2439 | 24.3320 | 24.4303 | 24.5184 | 24.6167 | 24.7048 |
| Camarilla | 24.3689 | 24.3860 | 24.4031 | 24.4202 | 24.4373 | 24.4544 | 24.4715 |
| Woodie | 24.1406 | 24.2414 | 24.3270 | 24.4278 | 24.5134 | 24.6142 | 24.6998 |
| Fibonacci | 24.2439 | 24.3151 | 24.3591 | 24.4303 | 24.5015 | 24.5455 | 24.6167 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 23.8884 | 24.1714 | 24.3640 | 24.6470 | 24.8396 | 25.1226 | 25.3152 |
| Camarilla | 24.4259 | 24.4695 | 24.5131 | 24.5567 | 24.6003 | 24.6439 | 24.6875 |
| Woodie | 23.8433 | 24.1488 | 24.3189 | 24.6244 | 24.7945 | 25.1000 | 25.2701 |
| Fibonacci | 24.1714 | 24.3531 | 24.4653 | 24.6470 | 24.8287 | 24.9409 | 25.1226 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 23.1317 | 23.7791 | 24.4427 | 25.0901 | 25.7537 | 26.4011 | 27.0647 |
| Camarilla | 24.7459 | 24.8661 | 24.9862 | 25.1064 | 25.2266 | 25.3468 | 25.4669 |
| Woodie | 23.1399 | 23.7832 | 24.4509 | 25.0942 | 25.7619 | 26.4052 | 27.0729 |
| Fibonacci | 23.7791 | 24.2799 | 24.5893 | 25.0901 | 25.5909 | 25.9003 | 26.4011 |
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): | 42.04 | |
| MACD (12,26,9): | -0.0058 | |
| Directional Movement: | 4.8554 | |
| AROON (14): | -14.2857 | |
| DEMA (21): | 24.4298 | |
| Parabolic SAR (0,02-0,02-0,2): | 24.5195 | |
| Elder Ray (13): | -0.0113 | |
| Super Trend (3,10): | 24.4922 | |
| Zig ZAG (10): | 24.4157 | |
| VORTEX (21): | 0.9608 | |
| Stochastique (14,3,5): | 38.81 | |
| TEMA (21): | 24.4437 | |
| Williams %R (14): | -78.71 | |
| Chande Momentum Oscillator (20): | -0.0307 | |
| Repulse (5,40,3): | -0.2226 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0038 | |
| Courbe Coppock: | 0.09 |
| MA7: | 24.6321 | |
| MA20: | 24.6982 | |
| MA50: | 24.9276 | |
| MA100: | 24.6453 | |
| MAexp7: | 24.4402 | |
| MAexp20: | 24.4384 | |
| MAexp50: | 24.4695 | |
| MAexp100: | 24.5350 | |
| Price / MA7: | -0.95% | |
| Price / MA20: | -1.22% | |
| Price / MA50: | -2.13% | |
| Price / MA100: | -1.00% | |
| Price / MAexp7: | -0.17% | |
| Price / MAexp20: | -0.17% | |
| Price / MAexp50: | -0.29% | |
| Price / MAexp100: | -0.56% |
This member declared not having a position on this financial instrument or a related financial instrument.
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