GBP/USD - 1H - Technical analysis published on 05/14/2024 (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
72%
0%
28%
My opinion
Bullish above 1.2556 USD
My targets
1.2633 USD (+0.0044)
1.2713 USD (+0.0124)
My analysis
The bullish trend is currently very strong on GBP/USD. As long as the price remains above the support at 1.2556 USD, you could try to benefit from the boom. The first bullish objective is located at 1.2633 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 1.2713 USD as an objective. Crossing it would then enable buyers to target 1.2835 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
8.4
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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 rating is 1.2589 USD. The price has increased by +0.23% since the last closing with the lowest point at 1.2509 USD and the highest point at 1.2593 USD. The deviation from the price is +0.64% for the low point and -0.03% for the high point.1.2509
1.2593
1.2589
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 LOW record (1 month)
Type : Bearish
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 scanner does not detect any result on moving averages that would impact this trend.
An assessment of technical indicators shows a strong bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.2517 | 1.2540 | 1.2556 | 1.2589 | 1.2594 | 1.2633 | 1.2713 |
| Change (%) | -0.57% | -0.39% | -0.26% | - | +0.04% | +0.35% | +0.98% |
| Change | -0.0072 | -0.0049 | -0.0033 | - | +0.0005 | +0.0044 | +0.0124 |
| Level | Intermediate | Intermediate | Major | - | Minor | Intermediate | Minor |
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 | 1.2466 | 1.2489 | 1.2524 | 1.2547 | 1.2582 | 1.2605 | 1.2640 |
| Camarilla | 1.2544 | 1.2549 | 1.2555 | 1.2560 | 1.2565 | 1.2571 | 1.2576 |
| Woodie | 1.2473 | 1.2492 | 1.2531 | 1.2550 | 1.2589 | 1.2608 | 1.2647 |
| Fibonacci | 1.2489 | 1.2511 | 1.2525 | 1.2547 | 1.2569 | 1.2583 | 1.2605 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2301 | 1.2374 | 1.2449 | 1.2522 | 1.2597 | 1.2670 | 1.2745 |
| Camarilla | 1.2484 | 1.2498 | 1.2511 | 1.2525 | 1.2539 | 1.2552 | 1.2566 |
| Woodie | 1.2303 | 1.2375 | 1.2451 | 1.2523 | 1.2599 | 1.2671 | 1.2747 |
| Fibonacci | 1.2374 | 1.2430 | 1.2465 | 1.2522 | 1.2578 | 1.2613 | 1.2670 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.1879 | 1.2089 | 1.2289 | 1.2499 | 1.2699 | 1.2909 | 1.3109 |
| Camarilla | 1.2376 | 1.2414 | 1.2451 | 1.2489 | 1.2527 | 1.2564 | 1.2602 |
| Woodie | 1.1874 | 1.2087 | 1.2284 | 1.2497 | 1.2694 | 1.2907 | 1.3104 |
| Fibonacci | 1.2089 | 1.2246 | 1.2342 | 1.2499 | 1.2656 | 1.2752 | 1.2909 |
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): | 66.19 | |
| MACD (12,26,9): | 0.0011 | |
| Directional Movement: | -3.1980 | |
| AROON (14): | 50.0000 | |
| DEMA (21): | 1.2587 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2562 | |
| Elder Ray (13): | 0.0009 | |
| Super Trend (3,10): | 1.2551 | |
| Zig ZAG (10): | 1.2589 | |
| VORTEX (21): | 1.1003 | |
| Stochastique (14,3,5): | 96.83 | |
| TEMA (21): | 1.2592 | |
| Williams %R (14): | -3.57 | |
| Chande Momentum Oscillator (20): | 0.0046 | |
| Repulse (5,40,3): | 0.0795 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0102 | |
| Courbe Coppock: | 0.57 |
| MA7: | 1.2536 | |
| MA20: | 1.2497 | |
| MA50: | 1.2593 | |
| MA100: | 1.2634 | |
| MAexp7: | 1.2586 | |
| MAexp20: | 1.2573 | |
| MAexp50: | 1.2556 | |
| MAexp100: | 1.2542 | |
| Price / MA7: | +0.42% | |
| Price / MA20: | +0.74% | |
| Price / MA50: | -0.03% | |
| Price / MA100: | -0.36% | |
| Price / MAexp7: | +0.02% | |
| Price / MAexp20: | +0.13% | |
| Price / MAexp50: | +0.26% | |
| Price / MAexp100: | +0.37% |
Quotes :
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Real time data
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Forex
News
The latest news and videos published on GBP/USD at the time of the analysis were as follows:
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Weekly Technical Outlook: 08/05/2024 - USDJPY, GBPUSD, USDCAD
-
GBP/USD Forecast May 3, 2024
-
GBP/USD Forecast May 2, 2024
-
GBP/USD April 24 Forecast
-
GBP/USD Forecast April 22, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
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