GBP/USD - 1H - Technical analysis published on 03/11/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Slightly bullish
Technical indicators
22%
61%
17%
My opinion
Bearish under 1.2894 USD
My targets
1.2723 USD (-0.0086)
1.2682 USD (-0.0127)
My analysis
The current short-term bearish trend is expected to quickly reset the neutral or bearish trend. To avoid contradicting the short term, it would be possible to favour short positions (for sale) for GBP/USD as long as the price remains well below 1.2894 USD. The next bearish objective for sellers is set at 1.2723 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 1.2682 USD. In case of crossing, the next objective would be the support located at 1.2623 USD. As the basic trend is not clearly displayed, attention should be paid to the price response to the support located at 1.2723 USD. With this support, against the trend traders who want to buy GBP/USD on a buy signal from their trading strategy should not hesitate to act.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
1.6
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This analysis was given by Karol85. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GBP/USD rating is 1.2809 USD. On the day, this instrument lost -0.34% and was traded between 1.2795 USD and 1.2864 USD over the period. The price is currently at +0.11% from its lowest and -0.43% from its highest.1.2795
1.2864
1.2809
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
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 (1 year)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
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: a reversal of the trend could be possible given the strong bearish signals of short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Previous candle closed under Bollinger bands
Type : Neutral
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.2682 | 1.2723 | 1.2800 | 1.2809 | 1.2894 | 1.2927 | 1.3128 |
| Change (%) | -0.99% | -0.67% | -0.07% | - | +0.66% | +0.92% | +2.49% |
| Change | -0.0127 | -0.0086 | -0.0009 | - | +0.0085 | +0.0118 | +0.0319 |
| Level | Intermediate | Minor | Major | - | Intermediate | Minor | 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 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2711 | 1.2756 | 1.2804 | 1.2849 | 1.2897 | 1.2942 | 1.2990 |
| Camarilla | 1.2826 | 1.2835 | 1.2844 | 1.2852 | 1.2861 | 1.2869 | 1.2878 |
| Woodie | 1.2713 | 1.2757 | 1.2806 | 1.2850 | 1.2899 | 1.2943 | 1.2992 |
| Fibonacci | 1.2756 | 1.2792 | 1.2814 | 1.2849 | 1.2885 | 1.2907 | 1.2942 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2454 | 1.2551 | 1.2701 | 1.2798 | 1.2948 | 1.3045 | 1.3195 |
| Camarilla | 1.2784 | 1.2807 | 1.2829 | 1.2852 | 1.2875 | 1.2897 | 1.2920 |
| Woodie | 1.2482 | 1.2564 | 1.2729 | 1.2811 | 1.2976 | 1.3058 | 1.3223 |
| Fibonacci | 1.2551 | 1.2645 | 1.2703 | 1.2798 | 1.2892 | 1.2950 | 1.3045 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2252 | 1.2385 | 1.2506 | 1.2639 | 1.2760 | 1.2893 | 1.3014 |
| Camarilla | 1.2557 | 1.2580 | 1.2604 | 1.2627 | 1.2650 | 1.2674 | 1.2697 |
| Woodie | 1.2246 | 1.2382 | 1.2500 | 1.2636 | 1.2754 | 1.2890 | 1.3008 |
| Fibonacci | 1.2385 | 1.2482 | 1.2542 | 1.2639 | 1.2736 | 1.2796 | 1.2893 |
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): | 35.81 | |
| MACD (12,26,9): | -0.0005 | |
| Directional Movement: | -17.1768 | |
| AROON (14): | -57.1428 | |
| DEMA (21): | 1.2831 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2853 | |
| Elder Ray (13): | -0.0026 | |
| Super Trend (3,10): | 1.2849 | |
| Zig ZAG (10): | 1.2810 | |
| VORTEX (21): | 0.7992 | |
| Stochastique (14,3,5): | 17.64 | |
| TEMA (21): | 1.2816 | |
| Williams %R (14): | -79.37 | |
| Chande Momentum Oscillator (20): | -0.0042 | |
| Repulse (5,40,3): | -0.0325 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0014 | |
| Courbe Coppock: | 0.46 |
| MA7: | 1.2751 | |
| MA20: | 1.2673 | |
| MA50: | 1.2679 | |
| MA100: | 1.2579 | |
| MAexp7: | 1.2821 | |
| MAexp20: | 1.2834 | |
| MAexp50: | 1.2822 | |
| MAexp100: | 1.2789 | |
| Price / MA7: | +0.45% | |
| Price / MA20: | +1.07% | |
| Price / MA50: | +1.03% | |
| Price / MA100: | +1.83% | |
| Price / MAexp7: | -0.09% | |
| Price / MAexp20: | -0.19% | |
| Price / MAexp50: | -0.10% | |
| Price / MAexp100: | +0.16% |
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:
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Technical Analysis: 05/03/2024 - GBPUSD battles with SMAs within sideways channel
-
Fun Fact Friday: Why is GBPUSD called cable?
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Technical Analysis: 23/02/2024 - GBPUSD tries to strengthen bullish move above SMAs
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Technical Analysis: 14/02/2024 - GBPUSD bears push for a breakout
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GBP/USD Forecast February 13, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
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