GBP/USD - 1H - Technical analysis published on 05/15/2024 (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 (+0.0036)
1.2713 USD (+0.0116)
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 1.2556 USD. The buyers' bullish objective is set at 1.2633 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.2713 USD. If there is any crossing, the next objective would be the resistance located at 1.2835 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, 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 price is 1.2597 USD. The price has increased by +0.10% since the last closing and was between 1.2583 USD and 1.2600 USD. This implies that the price is at +0.11% from its lowest and at -0.02% from its highest.1.2583
1.2600
1.2597
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
Technical analysis of this 1H chart of GBP/USD indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, according to the parameters integrated into the Central Analyzer system, 13 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
MACD indicator: bearish divergence
Type : Bearish
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 : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near resistance of channel
Type : Bearish
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 | 1.2541 | 1.2556 | 1.2593 | 1.2597 | 1.2633 | 1.2713 | 1.2835 |
| Change (%) | -0.44% | -0.33% | -0.03% | - | +0.29% | +0.92% | +1.89% |
| Change | -0.0056 | -0.0041 | -0.0004 | - | +0.0036 | +0.0116 | +0.0238 |
| Level | Intermediate | Major | Major | - | Intermediate | Minor | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2447 | 1.2478 | 1.2531 | 1.2562 | 1.2615 | 1.2646 | 1.2699 |
| Camarilla | 1.2561 | 1.2569 | 1.2576 | 1.2584 | 1.2592 | 1.2599 | 1.2607 |
| Woodie | 1.2458 | 1.2484 | 1.2542 | 1.2568 | 1.2626 | 1.2652 | 1.2710 |
| Fibonacci | 1.2478 | 1.2510 | 1.2530 | 1.2562 | 1.2594 | 1.2614 | 1.2646 |
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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 68.49 | |
| MACD (12,26,9): | 0.0011 | |
| Directional Movement: | 2.4314 | |
| AROON (14): | 92.8571 | |
| DEMA (21): | 1.2597 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2583 | |
| Elder Ray (13): | 0.0009 | |
| Super Trend (3,10): | 1.2571 | |
| Zig ZAG (10): | 1.2597 | |
| VORTEX (21): | 1.1792 | |
| Stochastique (14,3,5): | 91.17 | |
| TEMA (21): | 1.2599 | |
| Williams %R (14): | -15.00 | |
| Chande Momentum Oscillator (20): | 0.0012 | |
| Repulse (5,40,3): | 0.0190 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0118 | |
| Courbe Coppock: | 0.37 |
| MA7: | 1.2541 | |
| MA20: | 1.2504 | |
| MA50: | 1.2590 | |
| MA100: | 1.2632 | |
| MAexp7: | 1.2593 | |
| MAexp20: | 1.2583 | |
| MAexp50: | 1.2565 | |
| MAexp100: | 1.2549 | |
| Price / MA7: | +0.45% | |
| Price / MA20: | +0.74% | |
| Price / MA50: | +0.06% | |
| Price / MA100: | -0.28% | |
| Price / MAexp7: | +0.03% | |
| Price / MAexp20: | +0.11% | |
| Price / MAexp50: | +0.25% | |
| Price / MAexp100: | +0.38% |
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:
-
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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