GBP/USD - Daily - Technical analysis published on 11/06/2020 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
78%
11%
11%
My opinion
Bullish above 1.3053 USD
My targets
1.3253 USD (+0.0141)
1.3473 USD (+0.0361)
My analysis
The bullish trend is currently very strong on GBP/USD. As long as the price remains above the support at 1.3053 USD, you could try to benefit from the boom. The first bullish objective is located at 1.3253 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 1.3473 USD as an objective. Crossing it would then enable buyers to target 1.3800 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. 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.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
7.5
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
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 1.3112 USD. On the day, this instrument lost -0.20% and was traded between 1.3101 USD and 1.3157 USD over the period. The price is currently at +0.08% from its lowest and -0.34% from its highest.1.3101
1.3157
1.3112
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 HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in Daily of this GBP/USD chart shows a strongly bullish trend. 85.71% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : Daily
Bullish price crossover with Moving Average 50
Type : Bullish
Timeframe : Daily
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : Daily
Bullish price crossover with adaptative moving average 50
Type : Bullish
Timeframe : Daily
Technical indicators are strongly bullish, suggesting that the price increase should continue.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
MACD indicator: bullish divergence
Type : Bullish
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
RSI indicator is back over 50
Type : Bullish
Timeframe : Daily
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : Daily
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : Daily
Ichimoku : price is over the cloud
Type : Bullish
Timeframe : Daily
SuperTrend indicator bullish reversal
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Williams %R indicator is back over -50
Type : Bullish
Timeframe : Daily
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Resistance of triangle is broken
Type : Bullish
Timeframe : Daily
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.2306 | 1.2704 | 1.3053 | 1.3112 | 1.3253 | 1.3473 | 1.3800 |
| Change (%) | -6.15% | -3.11% | -0.45% | - | +1.08% | +2.75% | +5.25% |
| Change | -0.0806 | -0.0408 | -0.0059 | - | +0.0141 | +0.0361 | +0.0688 |
| Level | Minor | 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 | 1.2781 | 1.2861 | 1.2999 | 1.3079 | 1.3217 | 1.3297 | 1.3435 |
| Camarilla | 1.3078 | 1.3098 | 1.3118 | 1.3138 | 1.3158 | 1.3178 | 1.3198 |
| Woodie | 1.2811 | 1.2876 | 1.3029 | 1.3094 | 1.3247 | 1.3312 | 1.3465 |
| Fibonacci | 1.2861 | 1.2944 | 1.2995 | 1.3079 | 1.3162 | 1.3213 | 1.3297 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2658 | 1.2770 | 1.2857 | 1.2969 | 1.3056 | 1.3168 | 1.3255 |
| Camarilla | 1.2890 | 1.2909 | 1.2927 | 1.2945 | 1.2963 | 1.2982 | 1.3000 |
| Woodie | 1.2647 | 1.2764 | 1.2846 | 1.2963 | 1.3045 | 1.3162 | 1.3244 |
| Fibonacci | 1.2770 | 1.2846 | 1.2893 | 1.2969 | 1.3045 | 1.3092 | 1.3168 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2427 | 1.2624 | 1.2784 | 1.2981 | 1.3141 | 1.3338 | 1.3498 |
| Camarilla | 1.2847 | 1.2880 | 1.2912 | 1.2945 | 1.2978 | 1.3011 | 1.3043 |
| Woodie | 1.2410 | 1.2615 | 1.2767 | 1.2972 | 1.3124 | 1.3329 | 1.3481 |
| Fibonacci | 1.2624 | 1.2760 | 1.2844 | 1.2981 | 1.3117 | 1.3201 | 1.3338 |
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): | 56.58 | |
| MACD (12,26,9): | 0.0029 | |
| Directional Movement: | 6.7313 | |
| AROON (14): | -57.1429 | |
| DEMA (21): | 1.3043 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2861 | |
| Elder Ray (13): | 0.0102 | |
| Super Trend (3,10): | 1.2724 | |
| Zig ZAG (10): | 1.3116 | |
| VORTEX (21): | 1.0756 | |
| Stochastique (14,3,5): | 67.29 | |
| TEMA (21): | 1.3066 | |
| Williams %R (14): | -20.81 | |
| Chande Momentum Oscillator (20): | -0.0014 | |
| Repulse (5,40,3): | 0.8792 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0199 | |
| Courbe Coppock: | 0.85 |
| MA7: | 1.3021 | |
| MA20: | 1.3008 | |
| MA50: | 1.2983 | |
| MA100: | 1.2904 | |
| MAexp7: | 1.3055 | |
| MAexp20: | 1.3011 | |
| MAexp50: | 1.2975 | |
| MAexp100: | 1.2903 | |
| Price / MA7: | +0.70% | |
| Price / MA20: | +0.80% | |
| Price / MA50: | +0.99% | |
| Price / MA100: | +1.61% | |
| Price / MAexp7: | +0.44% | |
| Price / MAexp20: | +0.78% | |
| Price / MAexp50: | +1.06% | |
| Price / MAexp100: | +1.62% |
Quotes :
2020-11-06 12:41:17
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Real time data
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Forex
News
The last news published on GBP/USD at the time of the generation of this analysis was as follows:
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GBP/USD Technical Analysis For November 6, 2020 By FX Empire
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GBP/USD Technical Analysis for November 5, 2020 by FXEmpire
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This member declared not having a position on this financial instrument or a related financial instrument.
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