GBP/USD - 1H - Technical analysis published on 04/29/2024 (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%
0%
39%
My opinion
Bullish above 1.2483 USD
My targets
1.2548 USD (+0.0013)
1.2675 USD (+0.0140)
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, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
7.3
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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 1.2535 USD. The price registered an increase of +0.34% on the session and was between 1.2479 USD and 1.2549 USD. This implies that the price is at +0.45% from its lowest and at -0.11% from its highest.1.2479
1.2549
1.2535
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 year)
Type : Bullish
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. 85.71% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
An assessment of technical indicators shows a moderate bullish signal.
No additional result has been identified by Central Indicators, the scanner specialised in technical indicators.
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
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 | 1.2483 | 1.2535 | 1.2548 | 1.2675 | 1.2810 |
| Change (%) | -1.76% | -0.93% | -0.41% | - | +0.10% | +1.12% | +2.19% |
| Change | -0.0220 | -0.0117 | -0.0052 | - | +0.0013 | +0.0140 | +0.0275 |
| Level | Major | Major | Major | - | Intermediate | Intermediate | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
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): | 54.30 | |
| MACD (12,26,9): | 0.0008 | |
| Directional Movement: | 6.7551 | |
| AROON (14): | 50.0000 | |
| DEMA (21): | 1.2525 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2492 | |
| Elder Ray (13): | -0.0005 | |
| Super Trend (3,10): | 1.2496 | |
| Zig ZAG (10): | 1.2525 | |
| VORTEX (21): | 1.0196 | |
| Stochastique (14,3,5): | 65.24 | |
| TEMA (21): | 1.2529 | |
| Williams %R (14): | -31.43 | |
| Chande Momentum Oscillator (20): | 0.0031 | |
| Repulse (5,40,3): | 0.0719 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0071 | |
| Courbe Coppock: | 0.55 |
| MA7: | 1.2452 | |
| MA20: | 1.2514 | |
| MA50: | 1.2621 | |
| MA100: | 1.2646 | |
| MAexp7: | 1.2526 | |
| MAexp20: | 1.2515 | |
| MAexp50: | 1.2501 | |
| MAexp100: | 1.2480 | |
| Price / MA7: | +0.67% | |
| Price / MA20: | +0.17% | |
| Price / MA50: | -0.68% | |
| Price / MA100: | -0.88% | |
| Price / MAexp7: | +0.07% | |
| Price / MAexp20: | +0.16% | |
| Price / MAexp50: | +0.27% | |
| Price / MAexp100: | +0.44% |
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:
-
GBP/USD April 24 Forecast
-
GBP/USD Forecast April 22, 2024
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Technical Analysis: 03/04/2024 - GBPUSD battles with 200-day SMA
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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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