GBP/USD - 1H - Technical analysis published on 04/29/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 1.2483 USD
My targets
1.2590 USD (+0.0039)
1.2675 USD (+0.0124)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on GBP/USD as long as the price remains well above 1.2483 USD. The buyers' bullish objective is set at 1.2590 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.2675 USD. If there is any crossing, the next objective would be the resistance located at 1.2810 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
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
8.9
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This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
GBP/USD rating 1.2551 USD. The price has increased by +0.46% since the last closing and was traded between 1.2479 USD and 1.2555 USD over the period. The price is currently at +0.58% from its lowest and -0.03% from its highest.1.2479
1.2555
1.2551
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
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 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
A technical analysis in 1H of this GBP/USD chart shows a strongly bullish trend. 92.86% 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.
The probability of a further increase is high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near resistance of channel
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 | 1.2418 | 1.2483 | 1.2548 | 1.2551 | 1.2675 | 1.2810 | 1.3705 |
| Change (%) | -1.06% | -0.54% | -0.02% | - | +0.99% | +2.06% | +9.19% |
| Change | -0.0133 | -0.0068 | -0.0003 | - | +0.0124 | +0.0259 | +0.1154 |
| Level | Major | Major | Intermediate | - | Intermediate | Major | Minor |
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 the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 63.81 | |
| MACD (12,26,9): | 0.0010 | |
| Directional Movement: | 10.9970 | |
| AROON (14): | 42.8571 | |
| DEMA (21): | 1.2538 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2514 | |
| Elder Ray (13): | 0.0018 | |
| Super Trend (3,10): | 1.2496 | |
| Zig ZAG (10): | 1.2551 | |
| VORTEX (21): | 1.1573 | |
| Stochastique (14,3,5): | 74.21 | |
| TEMA (21): | 1.2542 | |
| Williams %R (14): | -8.33 | |
| Chande Momentum Oscillator (20): | 0.0028 | |
| Repulse (5,40,3): | 0.1629 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0092 | |
| Courbe Coppock: | 0.35 |
| MA7: | 1.2455 | |
| MA20: | 1.2516 | |
| MA50: | 1.2621 | |
| MA100: | 1.2646 | |
| MAexp7: | 1.2537 | |
| MAexp20: | 1.2526 | |
| MAexp50: | 1.2509 | |
| MAexp100: | 1.2486 | |
| Price / MA7: | +0.77% | |
| Price / MA20: | +0.28% | |
| Price / MA50: | -0.55% | |
| Price / MA100: | -0.75% | |
| Price / MAexp7: | +0.11% | |
| Price / MAexp20: | +0.20% | |
| Price / MAexp50: | +0.34% | |
| Price / MAexp100: | +0.52% |
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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