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 12/03/2020 (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 bullish
De fond: Strongly bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 1.3381 USD
My targets
1.3441 USD (+0.0046)
1.3473 USD (+0.0078)
My analysis
The bullish trend is currently very strong on GBP/USD. As long as the price remains above the support at 1.3381 USD, you could try to benefit from the boom. The first bullish objective is located at 1.3441 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.

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
8.6

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

Additional analysis

Quotes

The GBP/USD rating is 1.3395 USD. The price registered an increase of +0.20% on the session and was traded between 1.3353 USD and 1.3414 USD over the period. The price is currently at +0.31% from its lowest and -0.14% from its highest.

1.3353
1.3414
1.3395

Here is a more detailed summary of the historical variations registered by GBP/USD:
The Central Records scanner, which identifies the highest / lowest, has detected an element:

Central Records

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly



Technical


A technical analysis in 1H of this GBP/USD chart shows a strongly bullish trend. The signals given by the moving averages are 89.29% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

The probability of a further increase is high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:

Central Indicators

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : 1 hour


CCI indicator: bearish divergence

Type : Bearish

Timeframe : 1 hour


Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

The Central Indicators scanner found this result concerning these indicators:

Central Indicators

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Weekly



Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:

Central Candlesticks

Doji

Type : Neutral

Timeframe : 1 hour




ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 1.3338 1.3363 1.3381 1.3395 1.3398 1.3441 1.3473
Change (%) -0.43% -0.24% -0.10% - +0.02% +0.34% +0.58%
Change -0.0057 -0.0032 -0.0014 - +0.0003 +0.0046 +0.0078
Level Minor Minor Intermediate - Intermediate 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
Standard1.31361.32111.32901.33651.34441.35191.3598
Camarilla1.33261.33401.33541.33681.33821.33961.3410
Woodie1.31371.32121.32911.33661.34451.35201.3599
Fibonacci1.32111.32701.33071.33651.34241.34611.3519


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard1.31191.31911.32531.33251.33871.34591.3521
Camarilla1.32771.32891.33021.33141.33261.33391.3351
Woodie1.31131.31891.32471.33231.33811.34571.3515
Fibonacci1.31911.32431.32741.33251.33771.34081.3459


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard1.24521.26531.29951.31961.35381.37391.4081
Camarilla1.31871.32371.32861.33361.33861.34361.3485
Woodie1.25221.26881.30651.32311.36081.37741.4151
Fibonacci1.26531.28611.29891.31961.34041.35321.3739

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): 64.74
MACD (12,26,9): 0.0008
Directional Movement: 12.4007
AROON (14): 100.0000
DEMA (21): 1.3385
Parabolic SAR (0,02-0,02-0,2): 1.3337
Elder Ray (13): 0.0022
Super Trend (3,10): 1.3348
Zig ZAG (10): 1.3400
VORTEX (21): 1.1137
Stochastique (14,3,5): 84.13
TEMA (21): 1.3392
Williams %R (14): -20.97
Chande Momentum Oscillator (20): 0.0035
Repulse (5,40,3): 0.1288
ROCnROLL: 1
TRIX (15,9): 0.0013
Courbe Coppock: 0.68
MA7: 1.3368
MA20: 1.3283
MA50: 1.3094
MA100: 1.3055
MAexp7: 1.3391
MAexp20: 1.3378
MAexp50: 1.3371
MAexp100: 1.3364
Price / MA7: +0.20%
Price / MA20: +0.84%
Price / MA50: +2.30%
Price / MA100: +2.60%
Price / MAexp7: +0.03%
Price / MAexp20: +0.13%
Price / MAexp50: +0.18%
Price / MAexp100: +0.23%

Quotes : 2020-12-03 08:38:07 - Real time data - Forex

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

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