GBP/NOK - 1H - Technical analysis published on 06/01/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
83%
0%
17%
My opinion
Bullish above 13.8859 NOK
My targets
13.9684 NOK (+0.0605)
14.0458 NOK (+0.1379)
My analysis
The bullish trend is currently very strong on GBP/NOK. As long as the price remains above the support at 13.8859 NOK, you could try to benefit from the boom. The first bullish objective is located at 13.9684 NOK. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 14.0458 NOK as an objective. 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
8.4
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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/NOK rating 13.9079 NOK. The price registered an increase of +0.98% on the session and was traded between 13.7417 NOK and 13.9088 NOK over the period. The price is currently at +1.21% from its lowest and -0.01% from its highest.13.7417
13.9088
13.9079
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:
New HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this GBP/NOK chart shows a strongly bullish trend. The signals given by the moving averages are 89.29% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Bullish price crossover with adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
In fact, 15 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
MACD indicator is back over 0
Type : Bullish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:
Bullish engulfing lines
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 13.6856 | 13.7582 | 13.8859 | 13.9079 | 13.9684 | 14.0458 |
| Change (%) | -1.60% | -1.08% | -0.16% | - | +0.44% | +0.99% |
| Change | -0.2223 | -0.1497 | -0.0220 | - | +0.0605 | +0.1379 |
| Level | Major | 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 | 13.5029 | 13.6351 | 13.7041 | 13.8363 | 13.9053 | 14.0375 | 14.1065 |
| Camarilla | 13.7179 | 13.7363 | 13.7548 | 13.7732 | 13.7916 | 13.8101 | 13.8285 |
| Woodie | 13.4714 | 13.6193 | 13.6726 | 13.8205 | 13.8738 | 14.0217 | 14.0750 |
| Fibonacci | 13.6351 | 13.7119 | 13.7594 | 13.8363 | 13.9131 | 13.9606 | 14.0375 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 13.3047 | 13.3865 | 13.5399 | 13.6217 | 13.7751 | 13.8569 | 14.0103 |
| Camarilla | 13.6286 | 13.6502 | 13.6717 | 13.6933 | 13.7149 | 13.7364 | 13.7580 |
| Woodie | 13.3405 | 13.4044 | 13.5757 | 13.6396 | 13.8109 | 13.8748 | 14.0461 |
| Fibonacci | 13.3865 | 13.4764 | 13.5319 | 13.6217 | 13.7116 | 13.7671 | 13.8569 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 12.4652 | 12.8359 | 13.3045 | 13.6752 | 14.1438 | 14.5145 | 14.9831 |
| Camarilla | 13.5424 | 13.6193 | 13.6963 | 13.7732 | 13.8501 | 13.9271 | 14.0040 |
| Woodie | 12.5143 | 12.8604 | 13.3536 | 13.6997 | 14.1929 | 14.5390 | 15.0322 |
| Fibonacci | 12.8359 | 13.1565 | 13.3546 | 13.6752 | 13.9958 | 14.1939 | 14.5145 |
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): | 63.40 | |
| MACD (12,26,9): | 0.0043 | |
| Directional Movement: | 15.0257 | |
| AROON (14): | 50.0000 | |
| DEMA (21): | 13.8265 | |
| Parabolic SAR (0,02-0,02-0,2): | 13.7688 | |
| Elder Ray (13): | 0.0421 | |
| Super Trend (3,10): | 13.7765 | |
| Zig ZAG (10): | 13.8953 | |
| VORTEX (21): | 1.0726 | |
| Stochastique (14,3,5): | 88.86 | |
| TEMA (21): | 13.8335 | |
| Williams %R (14): | -3.58 | |
| Chande Momentum Oscillator (20): | 0.1113 | |
| Repulse (5,40,3): | 0.4990 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0147 | |
| Courbe Coppock: | 0.43 |
| MA7: | 13.7347 | |
| MA20: | 13.5177 | |
| MA50: | 13.2564 | |
| MA100: | 12.8601 | |
| MAexp7: | 13.8478 | |
| MAexp20: | 13.8269 | |
| MAexp50: | 13.8194 | |
| MAexp100: | 13.7775 | |
| Price / MA7: | +1.26% | |
| Price / MA20: | +2.89% | |
| Price / MA50: | +4.91% | |
| Price / MA100: | +8.15% | |
| Price / MAexp7: | +0.43% | |
| Price / MAexp20: | +0.59% | |
| Price / MAexp50: | +0.64% | |
| Price / MAexp100: | +0.95% |
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.
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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