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GBP/NOK
GBP NOK
- NOK (-)
- Real time data - Forex
Open: -
Change: -
Volume: -
Low: -
High: -
High / Low range: -
Type: Forex
Ticker: GBPNOK
ISIN:

GBP/NOK - 1H - Technical analysis published on 08/02/2024 (GMT)

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  • Timeframe : 1H
  • - Analysis generated on
  • Status : TARGET REACHED

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Summary of the analysis

Trends
Short term: Strongly bullish
Underlying: Slightly bearish
Technical indicators
89%
0%
11%
My opinion
Bullish above 13.9745 NOK
My targets
14.0574 NOK (+0.0261)
14.2244 NOK (+0.1931)
My analysis
The current short-term bullish trend is expected to quickly reset the neutral or bullish trend. To avoid contradicting the short term, it would be possible to favour long positions (at the time of purchase) for GBP/NOK as long as the price remains well above 13.9745 NOK. The buyers' bullish objective is set at 14.0574 NOK. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 14.2244 NOK. If there is any crossing, the next objective would be the resistance located at 14.3424 NOK. As the basic trend is not clearly displayed, attention should be paid to the price reaction to the resistance at 14.0574 NOK. On this resistance, against the trend traders who would like to go short on GBP/NOK with a bearish signal from their trading strategy, should not hesitate to act.

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
3.6

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.

Londinia
This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
15 min. Daily Weekly

Additional analysis

Quotes

GBP/NOK rating 14.0313 NOK. On the day, this instrument gained +0.61% and was traded between 13.9052 NOK and 14.0552 NOK over the period. The price is currently at +0.91% from its lowest and -0.17% from its highest.

13.9052
14.0552
14.0313

A study of price movements over other periods shows the following variations:
The Central Records scanner for higher/lower results shows the following items:

Central Records

Near a 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 slightly bearish trend. 53.57% of the signals given by moving averages are bearish. Caution: the strong bullish signals currently being given by short-term moving averages indicate that this slightly bearish trend could quickly be reversed. An assessment of moving averages reveals several bearish and bullish signals:

Central Indicators

Bearish trend reversal : Moving Average 50

Type : Bearish

Timeframe : 1 hour


Bullish price crossover with Moving Average 100

Type : Bullish

Timeframe : 1 hour



Technical indicators are strongly bullish, suggesting that the price increase should continue.
Caution: the Central Indicators scanner currently detects an excess:

Central Indicators

RSI indicator is overbought : over 70

Type : Neutral

Timeframe : 1 hour


CCI indicator is overbought : over 100

Type : Neutral

Timeframe : 1 hour


Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Central Indicators

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : 1 hour


Ichimoku : price is over the cloud

Type : Bullish

Timeframe : 1 hour



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:

Central Patterns

Near horizontal resistance

Type : Bearish

Timeframe : 1 hour


Resistance of channel is broken

Type : Bullish

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:

Central Candlesticks

Bullish engulfing lines

Type : Bullish

Timeframe : 1 hour




ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 13.6262 13.8816 13.9745 14.0313 14.0574 14.2244 14.3424
Change (%) -2.89% -1.07% -0.40% - +0.19% +1.38% +2.22%
Change -0.4051 -0.1497 -0.0568 - +0.0261 +0.1931 +0.3111
Level Intermediate Major Intermediate - 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
Standard13.720213.799113.872613.951514.025014.103914.1774
Camarilla13.904213.918213.932113.946113.960113.974013.9880
Woodie13.717513.797813.869913.950214.022314.102614.1747
Fibonacci13.799113.857313.893313.951514.009714.045714.1039


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard13.753213.902514.043914.193214.334614.483914.6253
Camarilla14.105514.132114.158814.185414.212114.238714.2653
Woodie13.749413.900514.040114.191214.330814.481914.6215
Fibonacci13.902514.013514.082114.193214.304214.372814.4839


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard12.623613.031913.525813.934114.428014.836315.3302
Camarilla13.771613.854313.937014.019714.102414.185114.2678
Woodie12.666413.053313.568613.955514.470814.857715.3730
Fibonacci13.031913.376513.589513.934114.278714.491714.8363

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): 64.02
MACD (12,26,9): 0.0087
Directional Movement: 11.3079
AROON (14): 28.5714
DEMA (21): 13.9710
Parabolic SAR (0,02-0,02-0,2): 13.9258
Elder Ray (13): 0.0374
Super Trend (3,10): 13.9277
Zig ZAG (10): 14.0280
VORTEX (21): 1.1404
Stochastique (14,3,5): 83.48
TEMA (21): 13.9975
Williams %R (14): -2.49
Chande Momentum Oscillator (20): 0.0890
Repulse (5,40,3): 0.4008
ROCnROLL: 1
TRIX (15,9): -0.0040
Courbe Coppock: 0.62
MA7: 14.0849
MA20: 13.9960
MA50: 13.6853
MA100: 13.6521
MAexp7: 13.9965
MAexp20: 13.9648
MAexp50: 13.9807
MAexp100: 14.0231
Price / MA7: -0.38%
Price / MA20: +0.25%
Price / MA50: +2.53%
Price / MA100: +2.78%
Price / MAexp7: +0.25%
Price / MAexp20: +0.48%
Price / MAexp50: +0.36%
Price / MAexp100: +0.06%

Quotes : - Real time data - Forex

This member declared not having a position on this financial instrument or a related financial instrument.

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