GBP/USD - 1H - Technical analysis published on 05/18/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Neutral
Technical indicators
94%
0%
6%
My opinion
Bullish above 1.2166 USD
My targets
1.2216 USD (+0.0019)
1.2308 USD (+0.0111)
My analysis
The current short-term bullish trend should quickly fix the basic bullish trend. To avoid contradicting the short term, it would be possible to favour long positions (at the time of purchase) for GBP/USD as long as the price remains well above 1.2166 USD. The buyers” bullish objective is set at 1.2216 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.2308 USD. If there is any crossing, the next objective would be the resistance located at 1.2378 USD.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
FORCE
0
10
4.1
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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
The GBP/USD price is 1.2197 USD. On the day, this instrument lost +0.72% and was traded between 1.2072 USD and 1.2203 USD over the period. The price is currently at +1.04% from its lowest and -0.05% from its highest.1.2072
1.2203
1.2197
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
A technical analysis in 1H of this GBP/USD chart shows a neutral trend. This indecision could turn into a bullish trend due to the strong bullish signals currently being given by short-term moving averages. An assessment of moving averages reveals several bullish signals that could impact this trend:
Bullish trend reversal : adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with Moving Average 50
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
In fact, 17 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
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 | 1.1492 | 1.2035 | 1.2166 | 1.2197 | 1.2308 | 1.2378 | 1.2493 |
| Change (%) | -5.78% | -1.33% | -0.25% | - | +0.91% | +1.48% | +2.43% |
| Change | -0.0705 | -0.0162 | -0.0031 | - | +0.0111 | +0.0181 | +0.0296 |
| Level | Intermediate | Major | Minor | - | Major | Intermediate | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 69.24 | |
| MACD (12,26,9): | 0.0001 | |
| Directional Movement: | 14.5262 | |
| AROON (14): | 100.0000 | |
| DEMA (21): | 1.2127 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2116 | |
| Elder Ray (13): | 0.0048 | |
| Super Trend (3,10): | 1.2109 | |
| Zig ZAG (10): | 1.2194 | |
| VORTEX (21): | 1.1109 | |
| Stochastique (14,3,5): | 91.34 | |
| TEMA (21): | 1.2145 | |
| Williams %R (14): | -6.72 | |
| Chande Momentum Oscillator (20): | 0.0088 | |
| Repulse (5,40,3): | 0.5717 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0163 | |
| Courbe Coppock: | 0.71 |
| MA7: | 1.2251 | |
| MA20: | 1.2354 | |
| MA50: | 1.2309 | |
| MA100: | 1.2662 | |
| MAexp7: | 1.2146 | |
| MAexp20: | 1.2131 | |
| MAexp50: | 1.2155 | |
| MAexp100: | 1.2201 | |
| Price / MA7: | -0.44% | |
| Price / MA20: | -1.27% | |
| Price / MA50: | -0.91% | |
| Price / MA100: | -3.67% | |
| Price / MAexp7: | +0.42% | |
| Price / MAexp20: | +0.54% | |
| Price / MAexp50: | +0.35% | |
| Price / MAexp100: | -0.03% |
News
The last news published on GBP/USD at the time of the generation of this analysis was as follows:
-
GBP/USD Technical Analysis For May 18, 2020 By FX Empire
-
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
-
GBP/USD Technical Analysis for May 15, 2020 by FXEmpire
This member declared not having a position on this financial instrument or a related financial instrument.
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