GBP/NOK - Daily - Technical analysis published on 08/26/2021 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Slightly bullish
Technical indicators
22%
44%
33%
My opinion
Bearish under 12.2032 NOK
My targets
11.8696 NOK (-0.2302)
11.7322 NOK (-0.3676)
My analysis
The current short-term bearish trend is expected to quickly reset the neutral or bearish trend. To avoid contradicting the short term, it would be possible to favour short positions (for sale) for GBP/NOK as long as the price remains well below 12.2032 NOK. The next bearish objective for sellers is set at 11.8696 NOK. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 11.7322 NOK. In case of crossing, the next objective would be the support located at 11.5429 NOK. As the basic trend is not clearly displayed, attention should be paid to the price response to the support located at 11.8696 NOK. With this support, against the trend traders who want to buy GBP/NOK on a buy signal from their trading strategy should not hesitate to act.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
1.1
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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/NOK rating 12.0998 NOK. On the day, this instrument lost -0.26% and was between 12.0755 NOK and 12.1471 NOK. This implies that the price is at +0.20% from its lowest and at -0.39% from its highest.12.0755
12.1471
12.0998
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
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of GBP/NOK indicates that the overall trend is slightly bullish. 57.14% of the signals given by moving averages are bullish. Caution: a reversal of the trend could be possible given the strong bearish signals of short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Previous candle closed under Bollinger bands
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Horizontal support is broken
Type : Bearish
Timeframe : Daily
Support of channel is broken
Type : Bearish
Timeframe : Daily
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 11.7322 | 11.8696 | 12.0705 | 12.0998 | 12.2032 | 12.3539 | 12.7807 |
| Change (%) | -3.04% | -1.90% | -0.24% | - | +0.85% | +2.10% | +5.63% |
| Change | -0.3676 | -0.2302 | -0.0293 | - | +0.1034 | +0.2541 | +0.6809 |
| Level | Intermediate | Minor | Intermediate | - | Intermediate | Major | Intermediate |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 12.0339 | 12.0648 | 12.0977 | 12.1286 | 12.1615 | 12.1924 | 12.2253 |
| Camarilla | 12.1132 | 12.1190 | 12.1249 | 12.1307 | 12.1366 | 12.1424 | 12.1483 |
| Woodie | 12.0350 | 12.0653 | 12.0988 | 12.1291 | 12.1626 | 12.1929 | 12.2264 |
| Fibonacci | 12.0648 | 12.0891 | 12.1042 | 12.1286 | 12.1529 | 12.1680 | 12.1924 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 11.9456 | 12.0542 | 12.1783 | 12.2869 | 12.4110 | 12.5196 | 12.6437 |
| Camarilla | 12.2384 | 12.2597 | 12.2811 | 12.3024 | 12.3237 | 12.3451 | 12.3664 |
| Woodie | 11.9534 | 12.0581 | 12.1861 | 12.2908 | 12.4188 | 12.5235 | 12.6515 |
| Fibonacci | 12.0542 | 12.1431 | 12.1980 | 12.2869 | 12.3758 | 12.4307 | 12.5196 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 11.4313 | 11.6378 | 11.9473 | 12.1538 | 12.4633 | 12.6698 | 12.9793 |
| Camarilla | 12.1150 | 12.1623 | 12.2096 | 12.2569 | 12.3042 | 12.3515 | 12.3988 |
| Woodie | 11.4829 | 11.6636 | 11.9989 | 12.1796 | 12.5149 | 12.6956 | 13.0309 |
| Fibonacci | 11.6378 | 11.8349 | 11.9567 | 12.1538 | 12.3509 | 12.4727 | 12.6698 |
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): | 41.26 | |
| MACD (12,26,9): | 0.0038 | |
| Directional Movement: | -2.4366 | |
| AROON (14): | -92.8571 | |
| DEMA (21): | 12.2381 | |
| Parabolic SAR (0,02-0,02-0,2): | 12.3779 | |
| Elder Ray (13): | -0.0995 | |
| Super Trend (3,10): | 12.0722 | |
| Zig ZAG (10): | 12.1064 | |
| VORTEX (21): | 0.9273 | |
| Stochastique (14,3,5): | 8.05 | |
| TEMA (21): | 12.1782 | |
| Williams %R (14): | -93.37 | |
| Chande Momentum Oscillator (20): | -0.2507 | |
| Repulse (5,40,3): | -0.9809 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0419 | |
| Courbe Coppock: | 1.59 |
| MA7: | 12.2088 | |
| MA20: | 12.2533 | |
| MA50: | 12.1327 | |
| MA100: | 11.9035 | |
| MAexp7: | 12.1779 | |
| MAexp20: | 12.2147 | |
| MAexp50: | 12.1283 | |
| MAexp100: | 12.0059 | |
| Price / MA7: | -0.89% | |
| Price / MA20: | -1.25% | |
| Price / MA50: | -0.27% | |
| Price / MA100: | +1.65% | |
| Price / MAexp7: | -0.64% | |
| Price / MAexp20: | -0.94% | |
| Price / MAexp50: | -0.23% | |
| Price / MAexp100: | +0.78% |
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.
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