GBP/USD - Daily - Technical analysis published on 10/24/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
78%
0%
22%
My opinion
Bullish above 1.2894 USD
My targets
1.3032 USD (+0.91%)
1.3175 USD (+2.02%)
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 1.2894 USD. The buyers” bullish objective is set at 1.3032 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.3175 USD. If there is any crossing, the next objective would be the resistance located at 1.3317 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
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
7.9
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This analysis was given by hsokkar. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GBP/USD rating is 1.2914 USD. The price is lower by -0.05% since the last closing and was traded between 1.2907 USD and 1.2928 USD over the period. The price is currently at +0.05% from its lowest and -0.11% from its highest.1.2907
1.2928
1.2914
Here is a more detailed summary of the historical variations registered by GBP/USD:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of GBP/USD indicates that the overall trend is strongly bullish. 85.71% 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 scanner does not detect any result on moving averages that would impact this trend.
Technical indicators are strongly bullish, suggesting that the price increase should continue.
But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Horizontal resistance is broken
Type : Bullish
Timeframe : Daily
Resistance of channel is broken
Type : Bullish
Timeframe : Daily
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 | 1.2493 | 1.2743 | 1.2894 | 1.2914 | 1.3032 | 1.3175 | 1.3317 |
| Change (%) | -3.26% | -1.32% | -0.15% | - | +0.91% | +2.02% | +3.12% |
| Change | -0.0421 | -0.0171 | -0.0020 | - | +0.0118 | +0.0261 | +0.0403 |
| Level | Major | Major | Intermediate | - | Minor | 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 | 1.2786 | 1.2814 | 1.2867 | 1.2895 | 1.2948 | 1.2976 | 1.3029 |
| Camarilla | 1.2899 | 1.2906 | 1.2914 | 1.2921 | 1.2928 | 1.2936 | 1.2943 |
| Woodie | 1.2800 | 1.2820 | 1.2881 | 1.2901 | 1.2962 | 1.2982 | 1.3043 |
| Fibonacci | 1.2814 | 1.2845 | 1.2864 | 1.2895 | 1.2926 | 1.2945 | 1.2976 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2191 | 1.2354 | 1.2665 | 1.2828 | 1.3139 | 1.3302 | 1.3613 |
| Camarilla | 1.2847 | 1.2890 | 1.2934 | 1.2977 | 1.3020 | 1.3064 | 1.3107 |
| Woodie | 1.2266 | 1.2391 | 1.2740 | 1.2865 | 1.3214 | 1.3339 | 1.3688 |
| Fibonacci | 1.2354 | 1.2535 | 1.2647 | 1.2828 | 1.3009 | 1.3121 | 1.3302 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.1347 | 1.1652 | 1.1971 | 1.2276 | 1.2595 | 1.2900 | 1.3219 |
| Camarilla | 1.2117 | 1.2175 | 1.2232 | 1.2289 | 1.2346 | 1.2403 | 1.2461 |
| Woodie | 1.1353 | 1.1656 | 1.1977 | 1.2280 | 1.2601 | 1.2904 | 1.3225 |
| Fibonacci | 1.1652 | 1.1891 | 1.2038 | 1.2276 | 1.2515 | 1.2662 | 1.2900 |
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): | 69.57 | |
| MACD (12,26,9): | 0.0162 | |
| Directional Movement: | 20.9391 | |
| AROON (14): | 64.2857 | |
| DEMA (21): | 1.2858 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2623 | |
| Elder Ray (13): | 0.0161 | |
| Super Trend (3,10): | 1.2518 | |
| Zig ZAG (10): | 1.2915 | |
| VORTEX (21): | 1.1992 | |
| Stochastique (14,3,5): | 87.04 | |
| TEMA (21): | 1.2965 | |
| Williams %R (14): | -11.86 | |
| Chande Momentum Oscillator (20): | 0.0696 | |
| Repulse (5,40,3): | 0.6035 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1373 | |
| Courbe Coppock: | 9.58 |
| MA7: | 1.2908 | |
| MA20: | 1.2568 | |
| MA50: | 1.2408 | |
| MA100: | 1.2431 | |
| MAexp7: | 1.2864 | |
| MAexp20: | 1.2666 | |
| MAexp50: | 1.2507 | |
| MAexp100: | 1.2509 | |
| Price / MA7: | +0.05% | |
| Price / MA20: | +2.75% | |
| Price / MA50: | +4.08% | |
| Price / MA100: | +3.89% | |
| Price / MAexp7: | +0.39% | |
| Price / MAexp20: | +1.96% | |
| Price / MAexp50: | +3.25% | |
| Price / MAexp100: | +3.24% |
News
The latest news and videos published on GBP/USD at the time of the analysis were as follows:
-
GBP/USD Technical Analysis for October 24, 2019 by FXEmpire
-
GBP/USD Technical Analysis for October 23, 2019 by FXEmpire
-
GBP/USD Technical Analysis for October 22, 2019 by FXEmpire
-
GBP/USD Technical Analysis for October 21, 2019 by FXEmpire
-
GBP/USD Technical Analysis for the week of October 21, 2019 by FXEmpire
This member declared not having a position on this financial instrument or a related financial instrument.
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