GBP/USD - 1H - Technical analysis published on 05/16/2024 (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
28%
28%
44%
My opinion
Bullish above 1.2633 USD
My targets
1.2713 USD (+0.0034)
1.2835 USD (+0.0156)
My analysis
GBP/USD is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 1.2633 USD. The next resistance located at 1.2713 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 1.2835 USD. After this resistance, buyers could then target 1.3705 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
Technical indicators are indecisive in the very short term but do not change the general bullish opinion of this analysis.
Force
0
10
6.1
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Additional analysis
Quotes
GBP/USD rating 1.2679 USD. On the day, this instrument lost -0.08% and was between 1.2674 USD and 1.2701 USD. This implies that the price is at +0.04% from its lowest and at -0.17% from its highest.1.2674
1.2701
1.2679
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 LOW record (1st january)
Type : Bearish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of GBP/USD in 1H shows a strongly overall bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being 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 does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
Central Indicators, the scanner specialised in technical indicators, has identified this signal:
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner currently notes the presence of this pattern in Japanese candlesticks that could mark the end of the short-term trend currently underway:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.2556 | 1.2593 | 1.2633 | 1.2679 | 1.2713 | 1.2835 | 1.3705 |
| Change (%) | -0.97% | -0.68% | -0.36% | - | +0.27% | +1.23% | +8.09% |
| Change | -0.0123 | -0.0086 | -0.0046 | - | +0.0034 | +0.0156 | +0.1026 |
| Level | Major | Intermediate | Minor | - | Minor | Major | Minor |
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 | 1.2506 | 1.2544 | 1.2617 | 1.2655 | 1.2728 | 1.2766 | 1.2839 |
| Camarilla | 1.2659 | 1.2669 | 1.2679 | 1.2689 | 1.2699 | 1.2709 | 1.2720 |
| Woodie | 1.2523 | 1.2553 | 1.2634 | 1.2664 | 1.2745 | 1.2775 | 1.2856 |
| Fibonacci | 1.2544 | 1.2587 | 1.2613 | 1.2655 | 1.2698 | 1.2724 | 1.2766 |
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): | 61.50 | |
| MACD (12,26,9): | 0.0019 | |
| Directional Movement: | 13.7838 | |
| AROON (14): | 50.0000 | |
| DEMA (21): | 1.2697 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2700 | |
| Elder Ray (13): | 0.0002 | |
| Super Trend (3,10): | 1.2650 | |
| Zig ZAG (10): | 1.2679 | |
| VORTEX (21): | 1.2029 | |
| Stochastique (14,3,5): | 35.59 | |
| TEMA (21): | 1.2696 | |
| Williams %R (14): | -75.86 | |
| Chande Momentum Oscillator (20): | -0.0003 | |
| Repulse (5,40,3): | -0.0771 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0272 | |
| Courbe Coppock: | 0.40 |
| MA7: | 1.2579 | |
| MA20: | 1.2521 | |
| MA50: | 1.2589 | |
| MA100: | 1.2632 | |
| MAexp7: | 1.2683 | |
| MAexp20: | 1.2670 | |
| MAexp50: | 1.2632 | |
| MAexp100: | 1.2597 | |
| Price / MA7: | +0.79% | |
| Price / MA20: | +1.26% | |
| Price / MA50: | +0.71% | |
| Price / MA100: | +0.37% | |
| Price / MAexp7: | -0.03% | |
| Price / MAexp20: | +0.07% | |
| Price / MAexp50: | +0.37% | |
| Price / MAexp100: | +0.65% |
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 Forecast May 16, 2024
-
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
This member declared not having a position on this financial instrument or a related financial instrument.
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