GBP/USD - 1H - Technical analysis published on 04/10/2024 (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%
72%
11%
My opinion
Bearish under 1.2574 USD
My targets
1.2475 USD (-0.0059)
1.2418 USD (-0.0116)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on GBP/USD as long as the price remains well below 1.2574 USD. The sellers' bearish objective is set at 1.2475 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 1.2418 USD. In case of crossing, the next objective would be the support located at 1.2315 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
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 dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GBP/USD price is 1.2534 USD. The price registered a decrease of -1.13% on the session and was traded between 1.2533 USD and 1.2708 USD over the period. The price is currently at +0.01% from its lowest and -1.37% from its highest.1.2533
1.2708
1.2534
Here is a more detailed summary of the historical variations registered by GBP/USD:
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 1H of this GBP/USD chart shows a sharp bearish trend. 82.14% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, 13 technical indicators on 18 studied are currently bearish. But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is oversold : under 20
Type : Neutral
Timeframe : 1 hour
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Pivot points : price is under support 3
Type : Neutral
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel 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 | 1.2044 | 1.2315 | 1.2418 | 1.2534 | 1.2541 | 1.2574 | 1.2625 |
| Change (%) | -3.91% | -1.75% | -0.93% | - | +0.06% | +0.32% | +0.73% |
| Change | -0.0490 | -0.0219 | -0.0116 | - | +0.0007 | +0.0040 | +0.0091 |
| Level | Major | Minor | Minor | - | Major | Minor | Intermediate |
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 | 1.2586 | 1.2617 | 1.2647 | 1.2678 | 1.2708 | 1.2739 | 1.2769 |
| Camarilla | 1.2660 | 1.2666 | 1.2671 | 1.2677 | 1.2683 | 1.2688 | 1.2694 |
| Woodie | 1.2586 | 1.2617 | 1.2647 | 1.2678 | 1.2708 | 1.2739 | 1.2769 |
| Fibonacci | 1.2617 | 1.2640 | 1.2655 | 1.2678 | 1.2701 | 1.2716 | 1.2739 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2412 | 1.2475 | 1.2557 | 1.2620 | 1.2702 | 1.2765 | 1.2847 |
| Camarilla | 1.2598 | 1.2611 | 1.2625 | 1.2638 | 1.2651 | 1.2665 | 1.2678 |
| Woodie | 1.2421 | 1.2480 | 1.2566 | 1.2625 | 1.2711 | 1.2770 | 1.2856 |
| Fibonacci | 1.2475 | 1.2531 | 1.2565 | 1.2620 | 1.2676 | 1.2710 | 1.2765 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2176 | 1.2376 | 1.2495 | 1.2695 | 1.2814 | 1.3014 | 1.3133 |
| Camarilla | 1.2527 | 1.2557 | 1.2586 | 1.2615 | 1.2644 | 1.2674 | 1.2703 |
| Woodie | 1.2137 | 1.2356 | 1.2456 | 1.2675 | 1.2775 | 1.2994 | 1.3094 |
| Fibonacci | 1.2376 | 1.2498 | 1.2573 | 1.2695 | 1.2817 | 1.2892 | 1.3014 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 15.79 | |
| MACD (12,26,9): | -0.0027 | |
| Directional Movement: | -40.9964 | |
| AROON (14): | -21.4285 | |
| DEMA (21): | 1.2608 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2686 | |
| Elder Ray (13): | -0.0078 | |
| Super Trend (3,10): | 1.2606 | |
| Zig ZAG (10): | 1.2537 | |
| VORTEX (21): | 0.6402 | |
| Stochastique (14,3,5): | 4.06 | |
| TEMA (21): | 1.2579 | |
| Williams %R (14): | -96.55 | |
| Chande Momentum Oscillator (20): | -0.0138 | |
| Repulse (5,40,3): | -0.5000 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0091 | |
| Courbe Coppock: | 1.25 |
| MA7: | 1.2625 | |
| MA20: | 1.2651 | |
| MA50: | 1.2662 | |
| MA100: | 1.2666 | |
| MAexp7: | 1.2586 | |
| MAexp20: | 1.2635 | |
| MAexp50: | 1.2650 | |
| MAexp100: | 1.2646 | |
| Price / MA7: | -0.72% | |
| Price / MA20: | -0.92% | |
| Price / MA50: | -1.01% | |
| Price / MA100: | -1.04% | |
| Price / MAexp7: | -0.41% | |
| Price / MAexp20: | -0.80% | |
| Price / MAexp50: | -0.92% | |
| Price / MAexp100: | -0.89% |
Quotes :
-
Real time data
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Forex
News
Don't forget to follow the news on GBP/USD. At the time of publication of this analysis, the latest news was as follows:
-
Technical Analysis: 03/04/2024 - GBPUSD battles with 200-day SMA
-
Technical Analysis: 26/03/2024 - GBPUSD bounces off 200-day SMA
-
Trade of the week: short GBP/USD
-
Trading the trend: long GBP/USD
-
Technical Analysis: 19/03/2024 - GBPUSD retreats towards 50-day SMA
This member declared not having a position on this financial instrument or a related financial instrument.
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