GBP/USD - 1H - Technical analysis published on 04/28/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
61%
11%
28%
My opinion
Bullish above 1.2483 USD
My targets
1.2548 USD (+0.0043)
1.2675 USD (+0.0170)
My analysis
The bullish trend is currently very strong on GBP/USD. As long as the price remains above the support at 1.2483 USD, you could try to benefit from the boom. The first bullish objective is located at 1.2548 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 1.2675 USD as an objective. Crossing it would then enable buyers to target 1.2810 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
7.7
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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 1.2505 USD. On the day, this instrument gained +0.10% with the lowest point at 1.2479 USD and the highest point at 1.2506 USD. The deviation from the price is +0.21% for the low point and -0.01% for the high point.1.2479
1.2506
1.2505
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
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
Technical analysis of this 1H chart of GBP/USD indicates that the overall trend is strongly bullish. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting several bullish signals 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
An assessment of technical indicators shows a moderate bullish signal.
Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : 1 hour
MACD indicator is back over 0
Type : Bullish
Timeframe : 1 hour
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.2315 | 1.2418 | 1.2483 | 1.2505 | 1.2548 | 1.2675 | 1.2810 |
| Change (%) | -1.52% | -0.70% | -0.18% | - | +0.34% | +1.36% | +2.44% |
| Change | -0.0190 | -0.0087 | -0.0022 | - | +0.0043 | +0.0170 | +0.0305 |
| Level | Major | Major | Major | - | Intermediate | Intermediate | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2356 | 1.2402 | 1.2448 | 1.2494 | 1.2540 | 1.2586 | 1.2632 |
| Camarilla | 1.2468 | 1.2476 | 1.2485 | 1.2493 | 1.2501 | 1.2510 | 1.2518 |
| Woodie | 1.2355 | 1.2402 | 1.2447 | 1.2494 | 1.2539 | 1.2586 | 1.2631 |
| Fibonacci | 1.2402 | 1.2438 | 1.2459 | 1.2494 | 1.2530 | 1.2551 | 1.2586 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2106 | 1.2202 | 1.2348 | 1.2444 | 1.2590 | 1.2686 | 1.2832 |
| Camarilla | 1.2427 | 1.2449 | 1.2471 | 1.2493 | 1.2515 | 1.2537 | 1.2560 |
| Woodie | 1.2130 | 1.2215 | 1.2372 | 1.2457 | 1.2614 | 1.2699 | 1.2856 |
| Fibonacci | 1.2202 | 1.2295 | 1.2352 | 1.2444 | 1.2537 | 1.2594 | 1.2686 |
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): | 53.76 | |
| MACD (12,26,9): | 0.0000 | |
| Directional Movement: | 4.6980 | |
| AROON (14): | -21.4286 | |
| DEMA (21): | 1.2498 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2512 | |
| Elder Ray (13): | 0.0004 | |
| Super Trend (3,10): | 1.2525 | |
| Zig ZAG (10): | 1.2504 | |
| VORTEX (21): | 1.0134 | |
| Stochastique (14,3,5): | 55.07 | |
| TEMA (21): | 1.2494 | |
| Williams %R (14): | -41.30 | |
| Chande Momentum Oscillator (20): | -0.0004 | |
| Repulse (5,40,3): | 0.1576 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0007 | |
| Courbe Coppock: | 0.22 |
| MA7: | 1.2448 | |
| MA20: | 1.2514 | |
| MA50: | 1.2620 | |
| MA100: | 1.2646 | |
| MAexp7: | 1.2498 | |
| MAexp20: | 1.2498 | |
| MAexp50: | 1.2489 | |
| MAexp100: | 1.2469 | |
| Price / MA7: | +0.46% | |
| Price / MA20: | -0.07% | |
| Price / MA50: | -0.91% | |
| Price / MA100: | -1.11% | |
| Price / MAexp7: | +0.06% | |
| Price / MAexp20: | +0.06% | |
| Price / MAexp50: | +0.13% | |
| 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:
-
GBP/USD April 24 Forecast
-
GBP/USD Forecast April 22, 2024
-
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
This member declared not having a position on this financial instrument or a related financial instrument.
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