GBP/USD - Daily - Technical analysis published on 03/22/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Slightly bearish
Technical indicators
22%
50%
28%
My opinion
Bearish under 1.2800 USD
My targets
1.2418 USD (-0.0165)
1.2315 USD (-0.0268)
My analysis
The short-term decline is currently reinforcing the basic trend, which is only slightly bearish. It would be possible for traders to only trade short positions (for sale) on GBP/USD as long as the price remains well below 1.2800 USD. The next bearish objective for sellers is set at 1.2418 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 1.2315 USD. In case of crossing, the next objective would be the support located at 1.2044 USD.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
3.8
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 edinag023. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
GBP/USD rating 1.2583 USD. The price registered a decrease of -0.61% on the session and was between 1.2575 USD and 1.2675 USD. This implies that the price is at +0.06% from its lowest and at -0.73% from its highest.1.2575
1.2675
1.2583
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in Daily of this GBP/USD chart shows a slightly bearish trend. 60.71% of the signals given by moving averages are bearish. This slightly bearish trend could be reinforced by the strong bearish signals given by short-term moving averages. An assessment of moving averages reveals several bearish signals that could impact this trend:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : Daily
Bearish trend reversal : Moving Average 50
Type : Bearish
Timeframe : Daily
Bearish trend reversal : adaptative moving average 50
Type : Bearish
Timeframe : Daily
Bearish price crossover with Moving Average 100
Type : Bearish
Timeframe : Daily
Bearish price crossover with adaptative moving average 50
Type : Bearish
Timeframe : Daily
Bearish price crossover with adaptative moving average 100
Type : Bearish
Timeframe : Daily
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 : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 1
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
Aroon indicator bearish trend
Type : Bearish
Timeframe : Daily
Ichimoku : price is under the cloud
Type : Bearish
Timeframe : Daily
SuperTrend indicator bearish reversal
Type : Bearish
Timeframe : Daily
Ichimoku - Bearish crossover : Tenkan & Kijun
Type : Bearish
Timeframe : Daily
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near support of channel
Type : Bullish
Timeframe : Daily
Horizontal support is broken
Type : Bearish
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 | 1.2315 | 1.2418 | 1.2539 | 1.2583 | 1.2621 | 1.2800 | 1.2927 |
| Change (%) | -2.13% | -1.31% | -0.35% | - | +0.30% | +1.72% | +2.73% |
| Change | -0.0268 | -0.0165 | -0.0044 | - | +0.0038 | +0.0217 | +0.0344 |
| Level | Minor | Minor | Intermediate | - | Intermediate | Major | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2453 | 1.2551 | 1.2606 | 1.2704 | 1.2759 | 1.2857 | 1.2912 |
| Camarilla | 1.2618 | 1.2632 | 1.2646 | 1.2660 | 1.2674 | 1.2688 | 1.2702 |
| Woodie | 1.2431 | 1.2540 | 1.2584 | 1.2693 | 1.2737 | 1.2846 | 1.2890 |
| Fibonacci | 1.2551 | 1.2610 | 1.2646 | 1.2704 | 1.2763 | 1.2799 | 1.2857 |
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): | 38.36 | |
| MACD (12,26,9): | 0.0006 | |
| Directional Movement: | -5.4724 | |
| AROON (14): | -71.4286 | |
| DEMA (21): | 1.2725 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2860 | |
| Elder Ray (13): | -0.0088 | |
| Super Trend (3,10): | 1.2863 | |
| Zig ZAG (10): | 1.2585 | |
| VORTEX (21): | 0.9751 | |
| Stochastique (14,3,5): | 25.14 | |
| TEMA (21): | 1.2717 | |
| Williams %R (14): | -97.18 | |
| Chande Momentum Oscillator (20): | -0.0152 | |
| Repulse (5,40,3): | -1.3806 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0280 | |
| Courbe Coppock: | 0.37 |
| MA7: | 1.2709 | |
| MA20: | 1.2724 | |
| MA50: | 1.2682 | |
| MA100: | 1.2631 | |
| MAexp7: | 1.2696 | |
| MAexp20: | 1.2711 | |
| MAexp50: | 1.2683 | |
| MAexp100: | 1.2633 | |
| Price / MA7: | -0.99% | |
| Price / MA20: | -1.11% | |
| Price / MA50: | -0.78% | |
| Price / MA100: | -0.38% | |
| Price / MAexp7: | -0.89% | |
| Price / MAexp20: | -1.01% | |
| Price / MAexp50: | -0.79% | |
| Price / MAexp100: | -0.40% |
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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Trading the trend: long GBP/USD
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Technical Analysis: 19/03/2024 - GBPUSD retreats towards 50-day SMA
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Technical Analysis: 05/03/2024 - GBPUSD battles with SMAs within sideways channel
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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
This member declared not having a position on this financial instrument or a related financial instrument.
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