GBP/USD - 1H - Technical analysis published on 06/03/2021 (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
Short term:
Bearish
Underlying:
Strongly bearish
Technical indicators
17%
72%
11%
My opinion
Bearish under 1.4183 USD
My targets
1.4112 USD (-0.0046)
1.4091 USD (-0.0067)
My analysis
The bearish basic trend is very strong on GBP/USD but the short term shows some signs of running out of steam. However, a sale could be considered as long as the price remains below 1.4183 USD. Crossing the first support at 1.4112 USD would be a sign of a further potential price plummet. Sellers would then use the next support located at 1.4091 USD as an objective. Crossing it would then enable sellers to target 1.3800 USD. Caution, a return to above the resistance located at 1.4183 USD would be a sign of a possible consolidation phase of the short-term basic trend. 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, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
6.8
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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 1.4158 USD. The price is lower by -0.09% since the last closing with the lowest point at 1.4144 USD and the highest point at 1.4179 USD. The deviation from the price is +0.10% for the low point and -0.15% for the high point.1.4144
1.4179
1.4158
A study of price movements over other periods shows the following variations:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of GBP/USD indicates that the overall trend is strongly bearish. 85.71% of the signals given by moving averages are bearish. This strongly bearish trend is showing signs of slowing down given the slightly bearish signals given by short-term moving averages. An assessment of moving averages reveals a bearish signal that could impact this trend:
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
The probability of a further decline is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : 1 hour
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Price is back under the pivot point
Type : Bearish
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Horizontal support is broken
Type : Bearish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 1.4091 | 1.4112 | 1.4145 | 1.4158 | 1.4164 | 1.4183 | 1.4200 |
Change (%) | -0.47% | -0.32% | -0.09% | - | +0.04% | +0.18% | +0.30% |
Change | -0.0067 | -0.0046 | -0.0013 | - | +0.0006 | +0.0025 | +0.0042 |
Level | Minor | Intermediate | Major | - | Minor | Intermediate | Minor |
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 | 1.4057 | 1.4084 | 1.4128 | 1.4155 | 1.4199 | 1.4226 | 1.4270 |
Camarilla | 1.4152 | 1.4158 | 1.4165 | 1.4171 | 1.4178 | 1.4184 | 1.4191 |
Woodie | 1.4065 | 1.4088 | 1.4136 | 1.4159 | 1.4207 | 1.4230 | 1.4278 |
Fibonacci | 1.4084 | 1.4112 | 1.4128 | 1.4155 | 1.4183 | 1.4199 | 1.4226 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 1.3984 | 1.4038 | 1.4112 | 1.4166 | 1.4240 | 1.4294 | 1.4368 |
Camarilla | 1.4152 | 1.4164 | 1.4175 | 1.4187 | 1.4199 | 1.4211 | 1.4222 |
Woodie | 1.3995 | 1.4043 | 1.4123 | 1.4171 | 1.4251 | 1.4299 | 1.4379 |
Fibonacci | 1.4038 | 1.4087 | 1.4117 | 1.4166 | 1.4215 | 1.4245 | 1.4294 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 1.3508 | 1.3654 | 1.3941 | 1.4087 | 1.4374 | 1.4520 | 1.4807 |
Camarilla | 1.4108 | 1.4148 | 1.4187 | 1.4227 | 1.4267 | 1.4306 | 1.4346 |
Woodie | 1.3578 | 1.3689 | 1.4011 | 1.4122 | 1.4444 | 1.4555 | 1.4877 |
Fibonacci | 1.3654 | 1.3820 | 1.3922 | 1.4087 | 1.4253 | 1.4355 | 1.4520 |
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): | 41.24 | |
MACD (12,26,9): | -0.0001 | |
Directional Movement: | -11.3333 | |
AROON (14): | -85.7143 | |
DEMA (21): | 1.4164 | |
Parabolic SAR (0,02-0,02-0,2): | 1.4182 | |
Elder Ray (13): | -0.0014 | |
Super Trend (3,10): | 1.4137 | |
Zig ZAG (10): | 1.4158 | |
VORTEX (21): | 1.0512 | |
Stochastique (14,3,5): | 18.92 | |
TEMA (21): | 1.4167 | |
Williams %R (14): | -61.11 | |
Chande Momentum Oscillator (20): | -0.0008 | |
Repulse (5,40,3): | -0.1193 | |
ROCnROLL: | 2 | |
TRIX (15,9): | 0.0011 | |
Courbe Coppock: | 0.03 |
MA7: | 1.4173 | |
MA20: | 1.4138 | |
MA50: | 1.3961 | |
MA100: | 1.3895 | |
MAexp7: | 1.4161 | |
MAexp20: | 1.4164 | |
MAexp50: | 1.4168 | |
MAexp100: | 1.4171 | |
Price / MA7: | -0.11% | |
Price / MA20: | +0.14% | |
Price / MA50: | +1.41% | |
Price / MA100: | +1.89% | |
Price / MAexp7: | -0.02% | |
Price / MAexp20: | -0.04% | |
Price / MAexp50: | -0.07% | |
Price / MAexp100: | -0.09% |
Quotes :
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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:
- GBP/USD Technical Analysis for June 3, 2021 by FXEmpire
- GBP/USD Daily Forecast - U.S. Dollar Continues To Move Higher Against British Pound
- GBP/USD Technical Analysis for June 2, 2021 by FXEmpire
- GBP/USD Daily Forecast - Test Of Resistance At 1.4240
- GBP/USD Technical Analysis for June 1, 2021 by FXEmpire
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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