GBP/USD - 1H - Technical analysis published on 10/16/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Court terme:
Neutral
De fond:
Bearish
Technical indicators
56%
0%
44%
My opinion
Bearish under 1.2971 USD
My targets
1.2891 USD (-0.0032)
1.2863 USD (-0.0060)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on GBP/USD. As long as you are under the resistance located at 1.2971 USD, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 1.2891 USD would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 1.2863 USD as an objective. Crossing it would then enable sellers to target 1.2845 USD. If the resistance 1.2971 USD were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
In the very short term, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.
Force
0
10
0.7
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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/USD rating 1.2923 USD. On the day, this instrument gained +0.16% and was traded between 1.2862 USD and 1.2963 USD over the period. The price is currently at +0.47% from its lowest and -0.31% from its highest.1.2862
1.2963
1.2923
A study of price movements over other periods shows the following variations:
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 bearish. The signals given by moving averages are 71.43% bearish. This bearish trend could slow down given the neutral signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, according to the parameters integrated into the Central Analyzer system, 10 technical indicators out of 18 analysed are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
CCI indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner currently notes the presence of this pattern in Japanese candlesticks that could mark the end of the short-term trend currently underway:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.2845 | 1.2863 | 1.2891 | 1.2923 | 1.2930 | 1.2971 | 1.3006 |
| Change (%) | -0.60% | -0.46% | -0.25% | - | +0.05% | +0.37% | +0.64% |
| Change | -0.0078 | -0.0060 | -0.0032 | - | +0.0007 | +0.0048 | +0.0083 |
| Level | Minor | Minor | Intermediate | - | Minor | Minor | Intermediate |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2712 | 1.2801 | 1.2852 | 1.2941 | 1.2992 | 1.3081 | 1.3132 |
| Camarilla | 1.2865 | 1.2877 | 1.2890 | 1.2903 | 1.2916 | 1.2929 | 1.2942 |
| Woodie | 1.2693 | 1.2792 | 1.2833 | 1.2932 | 1.2973 | 1.3072 | 1.3113 |
| Fibonacci | 1.2801 | 1.2855 | 1.2888 | 1.2941 | 1.2995 | 1.3028 | 1.3081 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2706 | 1.2776 | 1.2911 | 1.2981 | 1.3116 | 1.3186 | 1.3321 |
| Camarilla | 1.2991 | 1.3009 | 1.3028 | 1.3047 | 1.3066 | 1.3085 | 1.3103 |
| Woodie | 1.2740 | 1.2792 | 1.2945 | 1.2997 | 1.3150 | 1.3202 | 1.3355 |
| Fibonacci | 1.2776 | 1.2854 | 1.2902 | 1.2981 | 1.3059 | 1.3107 | 1.3186 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.1758 | 1.2217 | 1.2566 | 1.3025 | 1.3374 | 1.3833 | 1.4182 |
| Camarilla | 1.2694 | 1.2768 | 1.2842 | 1.2916 | 1.2990 | 1.3064 | 1.3138 |
| Woodie | 1.1704 | 1.2190 | 1.2512 | 1.2998 | 1.3320 | 1.3806 | 1.4128 |
| Fibonacci | 1.2217 | 1.2525 | 1.2716 | 1.3025 | 1.3333 | 1.3524 | 1.3833 |
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): | 50.23 | |
| MACD (12,26,9): | -0.0004 | |
| Directional Movement: | 0.2817 | |
| AROON (14): | 0 | |
| DEMA (21): | 1.2910 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2955 | |
| Elder Ray (13): | 0.0014 | |
| Super Trend (3,10): | 1.2947 | |
| Zig ZAG (10): | 1.2925 | |
| VORTEX (21): | 1.0419 | |
| Stochastique (14,3,5): | 64.36 | |
| TEMA (21): | 1.2918 | |
| Williams %R (14): | -42.57 | |
| Chande Momentum Oscillator (20): | 0.0029 | |
| Repulse (5,40,3): | 0.0232 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0106 | |
| Courbe Coppock: | 0.33 |
| MA7: | 1.2975 | |
| MA20: | 1.2893 | |
| MA50: | 1.3019 | |
| MA100: | 1.2838 | |
| MAexp7: | 1.2921 | |
| MAexp20: | 1.2919 | |
| MAexp50: | 1.2937 | |
| MAexp100: | 1.2954 | |
| Price / MA7: | -0.40% | |
| Price / MA20: | +0.23% | |
| Price / MA50: | -0.74% | |
| Price / MA100: | +0.66% | |
| Price / MAexp7: | +0.02% | |
| Price / MAexp20: | +0.03% | |
| Price / MAexp50: | -0.11% | |
| Price / MAexp100: | -0.24% |
Quotes :
2020-10-16 17:04:22
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Real time data
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Forex
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 October 19, 2020 by FXEmpire
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GBP/USD Technical Analysis for October 19, 2020 by FXEmpire
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GBP/USD Technical Analysis For October 16, 2020 By FX Empire
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GBP/USD Technical Analysis for October 16, 2020 by FXEmpire
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GBP/USD Technical Analysis For October 15, 2020 By FX Empire
This member declared not having a position on this financial instrument or a related financial instrument.
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