GBP/NOK - 1H - Technical analysis published on 01/31/2020 (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 bullish
De fond:
Strongly bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 12.0916 NOK
My targets
12.1891 NOK (+0.0483)
12.2337 NOK (+0.0929)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on GBP/NOK as long as the price remains well above 12.0916 NOK. The buyers” bullish objective is set at 12.1891 NOK. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 12.2337 NOK. If there is any crossing, the next objective would be the resistance located at 12.7807 NOK. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
FORCE
0
10
8.9
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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 12.1408 NOK. On the day, this instrument gained +0.93% and was between 12.0087 NOK and 12.1431 NOK. This implies that the price is at +1.10% from its lowest and at -0.02% from its highest.12.0087
12.1431
12.1408
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 LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of GBP/NOK in 1H shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
Technical indicators are strongly bullish, suggesting that the price increase should continue.
But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
CCI indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
MACD indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
RSI indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
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 resistance is broken
Type : Bullish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Bearish harami
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 11.8948 | 11.9508 | 12.0916 | 12.1408 | 12.1891 | 12.7807 | 13.3235 |
| Change (%) | -2.03% | -1.56% | -0.41% | - | +0.40% | +5.27% | +9.74% |
| Change | -0.2460 | -0.1900 | -0.0492 | - | +0.0483 | +0.6399 | +1.1827 |
| Level | Intermediate | Major | Intermediate | - | Major | Minor | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 11.7817 | 11.8563 | 11.9425 | 12.0171 | 12.1033 | 12.1779 | 12.2641 |
| Camarilla | 11.9846 | 11.9993 | 12.0141 | 12.0288 | 12.0435 | 12.0583 | 12.0730 |
| Woodie | 11.7876 | 11.8592 | 11.9484 | 12.0200 | 12.1092 | 12.1808 | 12.2700 |
| Fibonacci | 11.8563 | 11.9177 | 11.9556 | 12.0171 | 12.0785 | 12.1164 | 12.1779 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 11.3253 | 11.4332 | 11.6281 | 11.7360 | 11.9309 | 12.0388 | 12.2337 |
| Camarilla | 11.7396 | 11.7674 | 11.7951 | 11.8229 | 11.8507 | 11.8784 | 11.9062 |
| Woodie | 11.3687 | 11.4550 | 11.6715 | 11.7578 | 11.9743 | 12.0606 | 12.2771 |
| Fibonacci | 11.4332 | 11.5489 | 11.6204 | 11.7360 | 11.8517 | 11.9232 | 12.0388 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10.6555 | 11.0823 | 11.3631 | 11.7899 | 12.0707 | 12.4975 | 12.7783 |
| Camarilla | 11.4494 | 11.5143 | 11.5791 | 11.6440 | 11.7089 | 11.7737 | 11.8386 |
| Woodie | 10.5826 | 11.0458 | 11.2902 | 11.7534 | 11.9978 | 12.4610 | 12.7054 |
| Fibonacci | 11.0823 | 11.3526 | 11.5196 | 11.7899 | 12.0602 | 12.2272 | 12.4975 |
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): | 72.77 | |
| MACD (12,26,9): | 0.0306 | |
| Directional Movement: | 25.0171 | |
| AROON (14): | 92.8571 | |
| DEMA (21): | 12.1129 | |
| Parabolic SAR (0,02-0,02-0,2): | 12.0714 | |
| Elder Ray (13): | 0.0357 | |
| Super Trend (3,10): | 12.0521 | |
| Zig ZAG (10): | 12.1257 | |
| VORTEX (21): | 1.1487 | |
| Stochastique (14,3,5): | 88.97 | |
| TEMA (21): | 12.1213 | |
| Williams %R (14): | -6.59 | |
| Chande Momentum Oscillator (20): | 0.1092 | |
| Repulse (5,40,3): | 0.2269 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0314 | |
| Courbe Coppock: | 1.42 |
| MA7: | 11.9320 | |
| MA20: | 11.7277 | |
| MA50: | 11.7723 | |
| MA100: | 11.6655 | |
| MAexp7: | 12.1073 | |
| MAexp20: | 12.0735 | |
| MAexp50: | 12.0221 | |
| MAexp100: | 11.9652 | |
| Price / MA7: | +1.75% | |
| Price / MA20: | +3.52% | |
| Price / MA50: | +3.13% | |
| Price / MA100: | +4.07% | |
| Price / MAexp7: | +0.28% | |
| Price / MAexp20: | +0.56% | |
| Price / MAexp50: | +0.99% | |
| Price / MAexp100: | +1.47% |
This member declared not having a position on this financial instrument or a related financial instrument.
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