GBP/USD - 1H - Technical analysis published on 05/17/2020 (GMT)
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- Timeframe : 1H
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Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
28%
56%
17%
My opinion
Bearish under 1.2166 USD
My targets
1.2035 USD (-0.0052)
1.1878 USD (-0.0209)
My analysis
The bearish trend is currently very strong for GBP/USD. As long as the price remains below the resistance at 1.2166 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 1.2035 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 1.1878 USD as an objective. Crossing it would then enable sellers to target 1.1492 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. 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.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
FORCE
0
10
7
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This analysis was given by RaviM. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GBP/USD price is 1.2087 USD. The price is lower by -0.19% since the last closing with the lowest point at 1.2072 USD and the highest point at 1.2099 USD. The deviation from the price is +0.12% for the low point and -0.10% for the high point.1.2072
1.2099
1.2087
The Central Gaps scanner detects a bearish gap which is a sign that the sellers have taken the lead in the very short term.
Opening Gap DOWN
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of GBP/USD indicates that the overall trend is strongly bearish. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
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.
But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : 1 hour
MACD indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
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
S2
S1
R1
R2
R3
Price
| S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 1.1492 | 1.2035 | 1.2087 | 1.2166 | 1.2308 | 1.2378 |
| Change (%) | -4.92% | -0.43% | - | +0.65% | +1.83% | +2.41% |
| Change | -0.0595 | -0.0052 | - | +0.0079 | +0.0221 | +0.0291 |
| Level | Intermediate | Major | - | Minor | Major | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.1921 | 1.2011 | 1.2060 | 1.2150 | 1.2199 | 1.2289 | 1.2338 |
| Camarilla | 1.2072 | 1.2085 | 1.2097 | 1.2110 | 1.2123 | 1.2136 | 1.2148 |
| Woodie | 1.1902 | 1.2001 | 1.2041 | 1.2140 | 1.2180 | 1.2279 | 1.2319 |
| Fibonacci | 1.2011 | 1.2064 | 1.2097 | 1.2150 | 1.2203 | 1.2236 | 1.2289 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.1656 | 1.1878 | 1.1994 | 1.2216 | 1.2332 | 1.2554 | 1.2670 |
| Camarilla | 1.2017 | 1.2048 | 1.2079 | 1.2110 | 1.2141 | 1.2172 | 1.2203 |
| Woodie | 1.1603 | 1.1852 | 1.1941 | 1.2190 | 1.2279 | 1.2528 | 1.2617 |
| Fibonacci | 1.1878 | 1.2007 | 1.2087 | 1.2216 | 1.2345 | 1.2425 | 1.2554 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.1798 | 1.1982 | 1.2281 | 1.2465 | 1.2764 | 1.2948 | 1.3247 |
| Camarilla | 1.2448 | 1.2492 | 1.2537 | 1.2581 | 1.2625 | 1.2670 | 1.2714 |
| Woodie | 1.1857 | 1.2011 | 1.2340 | 1.2494 | 1.2823 | 1.2977 | 1.3306 |
| Fibonacci | 1.1982 | 1.2166 | 1.2280 | 1.2465 | 1.2649 | 1.2763 | 1.2948 |
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): | 27.02 | |
| MACD (12,26,9): | -0.0032 | |
| Directional Movement: | -19.8607 | |
| AROON (14): | -78.5714 | |
| DEMA (21): | 1.2095 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2122 | |
| Elder Ray (13): | -0.0029 | |
| Super Trend (3,10): | 1.2154 | |
| Zig ZAG (10): | 1.2087 | |
| VORTEX (21): | 0.7573 | |
| Stochastique (14,3,5): | 10.14 | |
| TEMA (21): | 1.2079 | |
| Williams %R (14): | -88.64 | |
| Chande Momentum Oscillator (20): | -0.0093 | |
| Repulse (5,40,3): | 0.0167 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0311 | |
| Courbe Coppock: | 1.60 |
| MA7: | 1.2237 | |
| MA20: | 1.2349 | |
| MA50: | 1.2307 | |
| MA100: | 1.2661 | |
| MAexp7: | 1.2099 | |
| MAexp20: | 1.2135 | |
| MAexp50: | 1.2179 | |
| MAexp100: | 1.2228 | |
| Price / MA7: | -1.23% | |
| Price / MA20: | -2.12% | |
| Price / MA50: | -1.79% | |
| Price / MA100: | -4.53% | |
| Price / MAexp7: | -0.10% | |
| Price / MAexp20: | -0.40% | |
| Price / MAexp50: | -0.76% | |
| Price / MAexp100: | -1.15% |
News
The latest news and videos published on GBP/USD at the time of the analysis were as follows:
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GBP/USD Technical Analysis for the Week of May 18, 2020 by FXEmpire
-
GBP/USD Technical Analysis for May 18, 2020 by FXEmpire
-
GBP/USD Technical Analysis For May 15, 2020 By FX Empire
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GBP/USD Technical Analysis for May 15, 2020 by FXEmpire
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GBP/USD Technical Analysis For May 14, 2020 By FX Empire
This member declared not having a position on this financial instrument or a related financial instrument.
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