GBP/USD
GBP USD
- USD (-)
- Real time data - Forex
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Type: Forex
Ticker: GBPUSD
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GBP/USD - 1H - Technical analysis published on 08/07/2020 (GMT)

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

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Summary of the analysis

Trends
Court terme: Strongly bearish
De fond: Slightly bullish
Technical indicators
17%
72%
11%
My opinion
Bearish under 1.3144 USD
My targets
1.3053 USD (-0.0052)
1.2981 USD (-0.0124)
My analysis
The strong short-term decline in GBP/USD calls into question the currently slightly bullish basic trend. A trend reversal is likely. As long as the price remains below the resistance located at 1.3144 USD, one could consider taking advantage of the short-term movement. The first bearish objective is located at 1.3053 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 1.2981 USD as an objective. Crossing it would then enable sellers to target 1.2913 USD. Be careful, a return to above 1.3144 USD could jeopardize the reversal.

In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
2.1

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This analysis was given by dan740. Take part yourself by sharing additional analysis on another time unit:
15 min. Daily Weekly

Additional analysis

Quotes

The GBP/USD price is 1.3105 USD. The price is lower by -0.25% since the last closing and was between 1.3103 USD and 1.3148 USD. This implies that the price is at +0.02% from its lowest and at -0.33% from its highest.

1.3103
1.3148
1.3105

Here is a more detailed summary of the historical variations registered by GBP/USD:
The study of the highest / lowest by the Central Records scanner shows the following result:

Central Records

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly



Technical


Technical analysis of this 1H chart of GBP/USD indicates that the overall trend is slightly bullish. 57.14% of the signals given by moving averages are bullish. Caution: the strong bearish signals currently being given by short-term moving averages indicate that this slightly bullish trend could be reversed. The Central Indicators market scanner is currently detecting several bearish signals that could impact this trend:

Central Indicators

Bearish trend reversal : Moving Average 20

Type : Bearish

Timeframe : 1 hour


Bearish trend reversal : adaptative moving average 50

Type : Bearish

Timeframe : 1 hour


Bearish price crossover with Moving Average 50

Type : Bearish

Timeframe : 1 hour



Technical indicators are strongly bearish, suggesting that the price decline is expected to continue.
Caution: the Central Indicators scanner currently detects an excess:

Central Indicators

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : 1 hour


Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : 1 hour

The Central Indicators scanner found this result concerning these indicators:

Central Indicators

Price is back over the pivot point

Type : Bullish

Timeframe : Weekly



The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:

Central Patterns

Horizontal resistance is broken

Type : Bullish

Timeframe : 1 hour


Resistance of triangle is broken

Type : Bullish

Timeframe : 1 hour



The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.


ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 1.2913 1.2981 1.3053 1.3105 1.3110 1.3144 1.3186
Change (%) -1.47% -0.95% -0.40% - +0.04% +0.30% +0.62%
Change -0.0192 -0.0124 -0.0052 - +0.0005 +0.0039 +0.0081
Level Minor Intermediate Intermediate - Major Minor Intermediate



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
Standard1.30421.30811.31091.31481.31761.32151.3243
Camarilla1.31201.31261.31321.31381.31441.31501.3156
Woodie1.30381.30781.31051.31451.31721.32121.3239
Fibonacci1.30811.31061.31221.31481.31731.31891.3215


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard1.24661.26231.28551.30121.32441.34011.3633
Camarilla1.29791.30151.30501.30861.31221.31571.3193
Woodie1.25031.26421.28921.30311.32811.34201.3670
Fibonacci1.26231.27721.28641.30121.31611.32531.3401


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard1.17621.20611.25731.28721.33841.36831.4195
Camarilla1.28631.29371.30121.30861.31601.32351.3309
Woodie1.18701.21141.26811.29251.34921.37361.4303
Fibonacci1.20611.23711.25621.28721.31821.33731.3683

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): 39.05
MACD (12,26,9): -0.0002
Directional Movement: -7.8255
AROON (14): -100.0000
DEMA (21): 1.3139
Parabolic SAR (0,02-0,02-0,2): 1.3148
Elder Ray (13): -0.0023
Super Trend (3,10): 1.3101
Zig ZAG (10): 1.3109
VORTEX (21): 0.9535
Stochastique (14,3,5): 14.03
TEMA (21): 1.3127
Williams %R (14): -96.92
Chande Momentum Oscillator (20): -0.0036
Repulse (5,40,3): -0.1721
ROCnROLL: 2
TRIX (15,9): 0.0048
Courbe Coppock: 0.45
MA7: 1.3105
MA20: 1.2851
MA50: 1.2659
MA100: 1.2491
MAexp7: 1.3128
MAexp20: 1.3138
MAexp50: 1.3126
MAexp100: 1.3100
Price / MA7: -0%
Price / MA20: +1.98%
Price / MA50: +3.52%
Price / MA100: +4.92%
Price / MAexp7: -0.17%
Price / MAexp20: -0.24%
Price / MAexp50: -0.15%
Price / MAexp100: +0.05%

Quotes : 2020-08-07 03:30:25 - Real time data - Forex

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

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