GBP/USD - 1H - Technical analysis published on 03/17/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
67%
17%
My opinion
Bearish under 1.2759 USD
My targets
1.2708 USD (-0.0022)
1.2690 USD (-0.0040)
My analysis
GBP/USD is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 1.2759 USD. The next support located at 1.2708 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 1.2690 USD. Below this support, sellers could then target 1.2621 USD. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
7.7
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This analysis was given by Anasabbas1991. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
GBP/USD rating 1.2730 USD. On the day, this instrument lost -0.01% and was between 1.2729 USD and 1.2738 USD. This implies that the price is at +0.01% from its lowest and at -0.06% from its highest.1.2729
1.2738
1.2730
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
Here is a more detailed summary of the historical variations registered by GBP/USD:
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 HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of GBP/USD in 1H shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
Technical indicators are bearish. There is still some doubt about the decline in the price.
The Central Indicators scanner specialised in technical indicators, has not detected anything further.
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
Near support of triangle
Type : Bullish
Timeframe : 1 hour
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 | 1.2690 | 1.2708 | 1.2729 | 1.2730 | 1.2759 | 1.2800 | 1.2823 |
| Change (%) | -0.31% | -0.17% | -0.01% | - | +0.23% | +0.55% | +0.73% |
| Change | -0.0040 | -0.0022 | -0.0001 | - | +0.0029 | +0.0070 | +0.0093 |
| Level | Minor | Minor | Major | - | Intermediate | Major | Major |
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 | 1.2682 | 1.2703 | 1.2717 | 1.2738 | 1.2752 | 1.2773 | 1.2787 |
| Camarilla | 1.2721 | 1.2725 | 1.2728 | 1.2731 | 1.2734 | 1.2737 | 1.2741 |
| Woodie | 1.2679 | 1.2701 | 1.2714 | 1.2736 | 1.2749 | 1.2771 | 1.2784 |
| Fibonacci | 1.2703 | 1.2716 | 1.2725 | 1.2738 | 1.2751 | 1.2760 | 1.2773 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2542 | 1.2633 | 1.2682 | 1.2773 | 1.2822 | 1.2913 | 1.2962 |
| Camarilla | 1.2693 | 1.2705 | 1.2718 | 1.2731 | 1.2744 | 1.2757 | 1.2770 |
| Woodie | 1.2521 | 1.2623 | 1.2661 | 1.2763 | 1.2801 | 1.2903 | 1.2941 |
| Fibonacci | 1.2633 | 1.2687 | 1.2720 | 1.2773 | 1.2827 | 1.2860 | 1.2913 |
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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 38.46 | |
| MACD (12,26,9): | -0.0006 | |
| Directional Movement: | -12.8726 | |
| AROON (14): | -64.2857 | |
| DEMA (21): | 1.2730 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2744 | |
| Elder Ray (13): | -0.0005 | |
| Super Trend (3,10): | 1.2761 | |
| Zig ZAG (10): | 1.2732 | |
| VORTEX (21): | 1.0000 | |
| Stochastique (14,3,5): | 27.62 | |
| TEMA (21): | 1.2732 | |
| Williams %R (14): | -77.14 | |
| Chande Momentum Oscillator (20): | -0.0016 | |
| Repulse (5,40,3): | -0.0326 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0080 | |
| Courbe Coppock: | 0.16 |
| MA7: | 1.2782 | |
| MA20: | 1.2716 | |
| MA50: | 1.2686 | |
| MA100: | 1.2609 | |
| MAexp7: | 1.2734 | |
| MAexp20: | 1.2739 | |
| MAexp50: | 1.2755 | |
| MAexp100: | 1.2767 | |
| Price / MA7: | -0.41% | |
| Price / MA20: | +0.11% | |
| Price / MA50: | +0.35% | |
| Price / MA100: | +0.96% | |
| Price / MAexp7: | -0.03% | |
| Price / MAexp20: | -0.07% | |
| Price / MAexp50: | -0.20% | |
| Price / MAexp100: | -0.29% |
Quotes :
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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:
-
Technical Analysis: 05/03/2024 - GBPUSD battles with SMAs within sideways channel
-
Fun Fact Friday: Why is GBPUSD called cable?
-
Technical Analysis: 23/02/2024 - GBPUSD tries to strengthen bullish move above SMAs
-
Technical Analysis: 14/02/2024 - GBPUSD bears push for a breakout
-
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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