GBP/USD - 1H - Technical analysis published on 05/21/2024 (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
67%
0%
33%
My opinion
Bullish above 1.2633 USD
My targets
1.2772 USD (+0.0056)
1.2835 USD (+0.0119)
My analysis
The bullish trend is currently very strong on GBP/USD. As long as the price remains above the support at 1.2633 USD, you could try to benefit from the boom. The first bullish objective is located at 1.2772 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 1.2835 USD as an objective. Crossing it would then enable buyers to target 1.3128 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.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.2
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This analysis was given by GCrow. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
GBP/USD rating 1.2716 USD. The price registered an increase of +0.05% on the session with the lowest point at 1.2686 USD and the highest point at 1.2727 USD. The deviation from the price is +0.24% for the low point and -0.09% for the high point.1.2686
1.2727
1.2716
Here is a more detailed summary of the historical variations registered by GBP/USD:
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 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. There is no crossing of moving average by the price or crossing of moving averages between themselves.
The technical indicators are bullish. There is still some doubt about the price increase.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
CCI indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
MACD indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
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 | 1.2593 | 1.2633 | 1.2713 | 1.2716 | 1.2835 | 1.3128 | 1.3705 |
| Change (%) | -0.97% | -0.65% | -0.02% | - | +0.94% | +3.24% | +7.78% |
| Change | -0.0123 | -0.0083 | -0.0003 | - | +0.0119 | +0.0412 | +0.0989 |
| Level | Minor | Minor | Intermediate | - | Major | Minor | 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 | 1.2645 | 1.2665 | 1.2687 | 1.2707 | 1.2729 | 1.2749 | 1.2771 |
| Camarilla | 1.2699 | 1.2702 | 1.2706 | 1.2710 | 1.2714 | 1.2718 | 1.2722 |
| Woodie | 1.2647 | 1.2666 | 1.2689 | 1.2708 | 1.2731 | 1.2750 | 1.2773 |
| Fibonacci | 1.2665 | 1.2681 | 1.2691 | 1.2707 | 1.2723 | 1.2733 | 1.2749 |
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 is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 59.62 | |
| MACD (12,26,9): | 0.0004 | |
| Directional Movement: | -2.8330 | |
| AROON (14): | 7.1428 | |
| DEMA (21): | 1.2718 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2686 | |
| Elder Ray (13): | 0.0006 | |
| Super Trend (3,10): | 1.2692 | |
| Zig ZAG (10): | 1.2722 | |
| VORTEX (21): | 1.0690 | |
| Stochastique (14,3,5): | 79.65 | |
| TEMA (21): | 1.2718 | |
| Williams %R (14): | -14.63 | |
| Chande Momentum Oscillator (20): | 0.0015 | |
| Repulse (5,40,3): | 0.0989 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0040 | |
| Courbe Coppock: | 0.14 |
| MA7: | 1.2662 | |
| MA20: | 1.2568 | |
| MA50: | 1.2582 | |
| MA100: | 1.2632 | |
| MAexp7: | 1.2716 | |
| MAexp20: | 1.2712 | |
| MAexp50: | 1.2702 | |
| MAexp100: | 1.2678 | |
| Price / MA7: | +0.43% | |
| Price / MA20: | +1.18% | |
| Price / MA50: | +1.07% | |
| Price / MA100: | +0.66% | |
| Price / MAexp7: | -0% | |
| Price / MAexp20: | +0.03% | |
| Price / MAexp50: | +0.11% | |
| Price / MAexp100: | +0.30% |
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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GBP/USD Forecast May 22, 2024
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Weekly Technical Outlook: 20/05/2024 - USDJPY, NZDUSD, GBPUSD
-
GBP/USD Forecast May 20, 2024
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GBP/USD Forecast May 17, 2024
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GBP/USD Forecast May 16, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
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