GBP/USD - 1H - Technical analysis published on 04/11/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
56%
11%
33%
My opinion
Bearish under 1.2574 USD
My targets
1.2541 USD (-0.0018)
1.2520 USD (-0.0039)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on GBP/USD. As long as you are under the resistance located at 1.2574 USD, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 1.2541 USD would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 1.2520 USD as an objective. Crossing it would then enable sellers to target 1.2418 USD. If the resistance 1.2574 USD were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
Technical indicators are opposing the general bearish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
1.1
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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 1.2559 USD. The price has increased by +0.18% since the last closing and was between 1.2511 USD and 1.2579 USD. This implies that the price is at +0.38% from its lowest and at -0.16% from its highest.1.2511
1.2579
1.2559
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 HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New LOW record (1st january)
Type : Bearish
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 1H of this GBP/USD chart shows a bearish trend. 71.43% of the signals given by moving averages are bearish. Caution: as the signals currently given by short-term moving averages are rather neutral, the bearish trend could slow down. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:
Bullish trend reversal : Moving Average 20
Type : Bullish
Timeframe : 1 hour
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
In fact, 10 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
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 | 1.2418 | 1.2520 | 1.2541 | 1.2559 | 1.2574 | 1.2625 | 1.2708 |
| Change (%) | -1.12% | -0.31% | -0.14% | - | +0.12% | +0.53% | +1.19% |
| Change | -0.0141 | -0.0039 | -0.0018 | - | +0.0015 | +0.0066 | +0.0149 |
| Level | Minor | Intermediate | Major | - | Minor | Intermediate | 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 | 1.2280 | 1.2400 | 1.2468 | 1.2588 | 1.2656 | 1.2776 | 1.2844 |
| Camarilla | 1.2484 | 1.2502 | 1.2519 | 1.2536 | 1.2553 | 1.2571 | 1.2588 |
| Woodie | 1.2254 | 1.2387 | 1.2442 | 1.2575 | 1.2630 | 1.2763 | 1.2818 |
| Fibonacci | 1.2400 | 1.2472 | 1.2516 | 1.2588 | 1.2660 | 1.2704 | 1.2776 |
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 the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 49.63 | |
| MACD (12,26,9): | -0.0011 | |
| Directional Movement: | 0.0399 | |
| AROON (14): | -14.2857 | |
| DEMA (21): | 1.2532 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2571 | |
| Elder Ray (13): | 0.0010 | |
| Super Trend (3,10): | 1.2575 | |
| Zig ZAG (10): | 1.2563 | |
| VORTEX (21): | 1.0608 | |
| Stochastique (14,3,5): | 58.33 | |
| TEMA (21): | 1.2541 | |
| Williams %R (14): | -27.94 | |
| Chande Momentum Oscillator (20): | 0.0025 | |
| Repulse (5,40,3): | 0.1901 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0198 | |
| Courbe Coppock: | 0.02 |
| MA7: | 1.2623 | |
| MA20: | 1.2641 | |
| MA50: | 1.2658 | |
| MA100: | 1.2666 | |
| MAexp7: | 1.2547 | |
| MAexp20: | 1.2551 | |
| MAexp50: | 1.2581 | |
| MAexp100: | 1.2604 | |
| Price / MA7: | -0.51% | |
| Price / MA20: | -0.65% | |
| Price / MA50: | -0.78% | |
| Price / MA100: | -0.84% | |
| Price / MAexp7: | +0.10% | |
| Price / MAexp20: | +0.06% | |
| Price / MAexp50: | -0.17% | |
| Price / MAexp100: | -0.36% |
Quotes :
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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
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Trade of the week: short GBP/USD
-
Trading the trend: long GBP/USD
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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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