GBP/USD - 1H - Technical analysis published on 05/20/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
28%
11%
61%
My opinion
Bullish above 1.2644 USD
My targets
1.2713 USD (+0.0016)
1.2835 USD (+0.0138)
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 1.2644 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. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible overbought items that could be a sign of a possible short-term correction.
Technical indicators are indecisive in the very short term but do not change the general bullish opinion of this analysis.
Force
0
10
4.8
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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 1.2697 USD. The price is lower by -0.03% since the last closing and was traded between 1.2684 USD and 1.2711 USD over the period. The price is currently at +0.10% from its lowest and -0.11% from its highest.1.2684
1.2711
1.2697
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
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 LOW record (1st january)
Type : Bearish
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. 82.14% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages show a weakening of the global trend. The Central Indicators scanner detects a bearish signal on moving averages that could impact this trend:
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : 1 hour
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 these signals:
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : 1 hour
Aroon indicator bullish trend
Type : Bullish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
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 | 1.2556 | 1.2593 | 1.2644 | 1.2697 | 1.2713 | 1.2835 | 1.3705 |
| Change (%) | -1.11% | -0.82% | -0.42% | - | +0.13% | +1.09% | +7.94% |
| Change | -0.0141 | -0.0104 | -0.0053 | - | +0.0016 | +0.0138 | +0.1008 |
| Level | Major | Minor | Intermediate | - | Minor | Major | 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 | 1.2593 | 1.2619 | 1.2660 | 1.2686 | 1.2727 | 1.2753 | 1.2794 |
| Camarilla | 1.2683 | 1.2689 | 1.2695 | 1.2701 | 1.2707 | 1.2713 | 1.2719 |
| Woodie | 1.2601 | 1.2623 | 1.2668 | 1.2690 | 1.2735 | 1.2757 | 1.2802 |
| Fibonacci | 1.2619 | 1.2645 | 1.2660 | 1.2686 | 1.2712 | 1.2727 | 1.2753 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2366 | 1.2438 | 1.2569 | 1.2641 | 1.2772 | 1.2844 | 1.2975 |
| Camarilla | 1.2645 | 1.2664 | 1.2682 | 1.2701 | 1.2720 | 1.2738 | 1.2757 |
| Woodie | 1.2397 | 1.2453 | 1.2600 | 1.2656 | 1.2803 | 1.2859 | 1.3006 |
| Fibonacci | 1.2438 | 1.2515 | 1.2563 | 1.2641 | 1.2718 | 1.2766 | 1.2844 |
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): | 52.27 | |
| MACD (12,26,9): | 0.0008 | |
| Directional Movement: | -2.6321 | |
| AROON (14): | 57.1428 | |
| DEMA (21): | 1.2707 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2712 | |
| Elder Ray (13): | -0.0002 | |
| Super Trend (3,10): | 1.2679 | |
| Zig ZAG (10): | 1.2696 | |
| VORTEX (21): | 1.1810 | |
| Stochastique (14,3,5): | 61.99 | |
| TEMA (21): | 1.2708 | |
| Williams %R (14): | -48.15 | |
| Chande Momentum Oscillator (20): | -0.0003 | |
| Repulse (5,40,3): | -0.0338 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0108 | |
| Courbe Coppock: | 0.11 |
| MA7: | 1.2633 | |
| MA20: | 1.2554 | |
| MA50: | 1.2583 | |
| MA100: | 1.2631 | |
| MAexp7: | 1.2702 | |
| MAexp20: | 1.2696 | |
| MAexp50: | 1.2680 | |
| MAexp100: | 1.2651 | |
| Price / MA7: | +0.51% | |
| Price / MA20: | +1.14% | |
| Price / MA50: | +0.91% | |
| Price / MA100: | +0.52% | |
| Price / MAexp7: | -0.04% | |
| Price / MAexp20: | +0.01% | |
| Price / MAexp50: | +0.13% | |
| Price / MAexp100: | +0.36% |
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 20, 2024
-
GBP/USD Forecast May 17, 2024
-
GBP/USD Forecast May 16, 2024
-
Weekly Technical Outlook: 08/05/2024 - USDJPY, GBPUSD, USDCAD
-
GBP/USD Forecast May 3, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
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