GBP/USD - Daily - Technical analysis published on 03/25/2024 (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
11%
78%
11%
My opinion
Bearish under 1.2800 USD
My targets
1.2539 USD (-0.0068)
1.2418 USD (-0.0189)
My analysis
GBP/USD is currently trying to strengthen its basic trend with a very bearish short term. As long as the price remains below 1.2800 USD, traders may consider taking advantage of this bearish acceleration and setting themselves to trade only in short positions (for sale). Sellers will encounter the support at 1.2539 USD. A bearish break in this support would confirm a continuation of the bearish acceleration. The next support located at 1.2418 USD would then be the next bearish objective for sellers. Crossing it would then enable sellers to target 1.2315 USD. Beware of a possible return to above the resistance located at 1.2800 USD which would be a sign of a correction of the short-term bearish excesses registered.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
5
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Additional analysis
Quotes
The GBP/USD rating is 1.2607 USD. The price has increased by +0.09% since the last closing and was traded between 1.2588 USD and 1.2617 USD over the period. The price is currently at +0.15% from its lowest and -0.08% from its highest.1.2588
1.2617
1.2607
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 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
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. The overall trend could accelerate as a result of the strong bearish signals from short-term moving averages. An assessment of moving averages reveals a bearish signal that could impact this trend:
Bearish trend reversal : adaptative moving average 100
Type : Bearish
Timeframe : Daily
An assessment of technical indicators shows a strong bearish signal.
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
MACD indicator is back under 0
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 horizontal support
Type : Bullish
Timeframe : Daily
Support of channel is broken
Type : Bearish
Timeframe : Daily
The presence of these Japanese chandelier patterns detected by Central Candlesticks that could impact the current short-term trend were also noted:
Bullish harami
Type : Bullish
Timeframe : Daily
Bullish harami cross
Type : Bullish
Timeframe : Daily
Doji
Type : Neutral
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.2315 | 1.2418 | 1.2539 | 1.2607 | 1.2621 | 1.2800 | 1.2927 |
| Change (%) | -2.32% | -1.50% | -0.54% | - | +0.11% | +1.53% | +2.54% |
| Change | -0.0292 | -0.0189 | -0.0068 | - | +0.0014 | +0.0193 | +0.0320 |
| Level | Minor | Minor | Major | - | Major | Major | 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 | 1.2456 | 1.2515 | 1.2556 | 1.2615 | 1.2656 | 1.2715 | 1.2756 |
| Camarilla | 1.2569 | 1.2578 | 1.2587 | 1.2596 | 1.2605 | 1.2614 | 1.2624 |
| Woodie | 1.2446 | 1.2511 | 1.2546 | 1.2611 | 1.2646 | 1.2711 | 1.2746 |
| Fibonacci | 1.2515 | 1.2554 | 1.2577 | 1.2615 | 1.2654 | 1.2677 | 1.2715 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2285 | 1.2430 | 1.2513 | 1.2658 | 1.2741 | 1.2886 | 1.2969 |
| Camarilla | 1.2533 | 1.2554 | 1.2575 | 1.2596 | 1.2617 | 1.2638 | 1.2659 |
| Woodie | 1.2254 | 1.2415 | 1.2482 | 1.2643 | 1.2710 | 1.2871 | 1.2938 |
| Fibonacci | 1.2430 | 1.2517 | 1.2571 | 1.2658 | 1.2745 | 1.2799 | 1.2886 |
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): | 40.02 | |
| MACD (12,26,9): | -0.0003 | |
| Directional Movement: | -5.3189 | |
| AROON (14): | -71.4285 | |
| DEMA (21): | 1.2707 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2837 | |
| Elder Ray (13): | -0.0097 | |
| Super Trend (3,10): | 1.2826 | |
| Zig ZAG (10): | 1.2603 | |
| VORTEX (21): | 0.9589 | |
| Stochastique (14,3,5): | 6.98 | |
| TEMA (21): | 1.2692 | |
| Williams %R (14): | -90.60 | |
| Chande Momentum Oscillator (20): | -0.0207 | |
| Repulse (5,40,3): | -0.7399 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0232 | |
| Courbe Coppock: | 0.27 |
| MA7: | 1.2691 | |
| MA20: | 1.2720 | |
| MA50: | 1.2680 | |
| MA100: | 1.2635 | |
| MAexp7: | 1.2676 | |
| MAexp20: | 1.2702 | |
| MAexp50: | 1.2680 | |
| MAexp100: | 1.2633 | |
| Price / MA7: | -0.66% | |
| Price / MA20: | -0.89% | |
| Price / MA50: | -0.58% | |
| Price / MA100: | -0.22% | |
| Price / MAexp7: | -0.54% | |
| Price / MAexp20: | -0.75% | |
| Price / MAexp50: | -0.58% | |
| Price / MAexp100: | -0.21% |
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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