GBP/USD - Daily - Technical analysis published on 05/15/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Neutral
Technical indicators
78%
6%
17%
My opinion
Bullish above 1.2418 USD
My targets
1.2713 USD (+0.0115)
1.2835 USD (+0.0237)
My analysis
The current short-term bullish trend should quickly fix the basic bullish trend. To avoid contradicting the short term, it would be possible to favour long positions (at the time of purchase) for GBP/USD as long as the price remains well above 1.2418 USD. The buyers' bullish objective is set at 1.2713 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.2835 USD. If there is any crossing, the next objective would be the resistance located at 1.3705 USD.
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
4.1
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This analysis was given by Barts_XV. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GBP/USD rating is 1.2598 USD. On the day, this instrument gained +0.11% and was traded between 1.2583 USD and 1.2600 USD over the period. The price is currently at +0.12% from its lowest and -0.02% from its highest.1.2583
1.2600
1.2598
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 LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in Daily of this GBP/USD chart shows a neutral trend. The strong bullish signals currently being given by short-term moving averages could allow the overall trend to return to bullish. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:
Bullish trend reversal : adaptative moving average 50
Type : Bullish
Timeframe : Daily
Bullish price crossover with Moving Average 50
Type : Bullish
Timeframe : Daily
Technical indicators are strongly bullish, suggesting that the price increase should continue.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
SuperTrend indicator bullish reversal
Type : Bullish
Timeframe : Daily
MACD indicator is back over 0
Type : Bullish
Timeframe : Daily
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near resistance of channel
Type : Bearish
Timeframe : Daily
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 | 1.2350 | 1.2418 | 1.2556 | 1.2598 | 1.2633 | 1.2713 | 1.2835 |
| Change (%) | -1.97% | -1.43% | -0.33% | - | +0.28% | +0.91% | +1.88% |
| Change | -0.0248 | -0.0180 | -0.0042 | - | +0.0035 | +0.0115 | +0.0237 |
| Level | Minor | Minor | Major | - | Intermediate | Minor | 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 | 1.2447 | 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): | 57.04 | |
| MACD (12,26,9): | 0.0003 | |
| Directional Movement: | 6.1923 | |
| AROON (14): | -28.5715 | |
| DEMA (21): | 1.2529 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2475 | |
| Elder Ray (13): | 0.0052 | |
| Super Trend (3,10): | 1.2390 | |
| Zig ZAG (10): | 1.2595 | |
| VORTEX (21): | 1.1156 | |
| Stochastique (14,3,5): | 71.86 | |
| TEMA (21): | 1.2559 | |
| Williams %R (14): | -22.22 | |
| Chande Momentum Oscillator (20): | 0.0035 | |
| Repulse (5,40,3): | 0.6387 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0168 | |
| Courbe Coppock: | 1.49 |
| MA7: | 1.2540 | |
| MA20: | 1.2504 | |
| MA50: | 1.2590 | |
| MA100: | 1.2632 | |
| MAexp7: | 1.2556 | |
| MAexp20: | 1.2535 | |
| MAexp50: | 1.2563 | |
| MAexp100: | 1.2584 | |
| Price / MA7: | +0.46% | |
| Price / MA20: | +0.75% | |
| Price / MA50: | +0.06% | |
| Price / MA100: | -0.27% | |
| Price / MAexp7: | +0.33% | |
| Price / MAexp20: | +0.50% | |
| Price / MAexp50: | +0.28% | |
| Price / MAexp100: | +0.11% |
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:
-
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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