GBP/USD - 1H - Technical analysis published on 10/28/2019 (GMT)
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- Timeframe : 1H
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Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Slightly bullish
Technical indicators
83%
6%
11%
My opinion
Bullish above 1.2841 USD
My targets
1.2894 USD (+0.22%)
1.2950 USD (+0.65%)
My analysis
The strong short-term increase for GBP/USD reinforces the current slightly bullish trend. As long as the price remains above 1.2841 USD, you could take advantage of this bullish acceleration. The first bullish objective is located at 1.2894 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 1.2950 USD as an objective. Crossing it would then enable buyers to target 1.2989 USD. A return to 1.2841 USD would be a sign of a possible correction of short-term bullish excesses. In this case, you could stay away while waiting for signals indicating a reversal of the trend.
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
4.6
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
GBP/USD rating 1.2866 USD. On the day, this instrument gained +0.30% and was traded between 1.2809 USD and 1.2877 USD over the period. The price is currently at +0.44% from its lowest and -0.09% from its highest.1.2809
1.2877
1.2866
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
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
Technical
A technical analysis in 1H of this GBP/USD chart shows a slightly bullish trend. 53.57% of the signals given by moving averages are bullish. The overall trend could accelerate as strong bullish signals from short-term moving averages are expected. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 15 technical indicators on 18 studied are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Resistance of triangle is broken
Type : Bullish
Timeframe : 1 hour
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 | 1.2743 | 1.2789 | 1.2841 | 1.2866 | 1.2894 | 1.2950 | 1.2989 |
| Change (%) | -0.96% | -0.60% | -0.19% | - | +0.22% | +0.65% | +0.96% |
| Change | -0.0123 | -0.0077 | -0.0025 | - | +0.0028 | +0.0084 | +0.0123 |
| Level | Major | Major | Intermediate | - | Intermediate | Minor | Intermediate |
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 | 1.2741 | 1.2772 | 1.2800 | 1.2831 | 1.2859 | 1.2890 | 1.2918 |
| Camarilla | 1.2811 | 1.2816 | 1.2822 | 1.2827 | 1.2832 | 1.2838 | 1.2843 |
| Woodie | 1.2739 | 1.2771 | 1.2798 | 1.2830 | 1.2857 | 1.2889 | 1.2916 |
| Fibonacci | 1.2772 | 1.2795 | 1.2809 | 1.2831 | 1.2854 | 1.2868 | 1.2890 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2514 | 1.2651 | 1.2739 | 1.2876 | 1.2964 | 1.3101 | 1.3189 |
| Camarilla | 1.2765 | 1.2786 | 1.2806 | 1.2827 | 1.2848 | 1.2868 | 1.2889 |
| Woodie | 1.2490 | 1.2639 | 1.2715 | 1.2864 | 1.2940 | 1.3089 | 1.3165 |
| Fibonacci | 1.2651 | 1.2737 | 1.2790 | 1.2876 | 1.2962 | 1.3015 | 1.3101 |
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 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): | 59.87 | |
| MACD (12,26,9): | 0.0004 | |
| Directional Movement: | 13.9423 | |
| AROON (14): | 85.7142 | |
| DEMA (21): | 1.2840 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2829 | |
| Elder Ray (13): | 0.0021 | |
| Super Trend (3,10): | 1.2797 | |
| Zig ZAG (10): | 1.2866 | |
| VORTEX (21): | 1.0838 | |
| Stochastique (14,3,5): | 73.82 | |
| TEMA (21): | 1.2851 | |
| Williams %R (14): | -16.67 | |
| Chande Momentum Oscillator (20): | 0.0047 | |
| Repulse (5,40,3): | 0.1181 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0004 | |
| Courbe Coppock: | 0.37 |
| MA7: | 1.2897 | |
| MA20: | 1.2620 | |
| MA50: | 1.2435 | |
| MA100: | 1.2433 | |
| MAexp7: | 1.2846 | |
| MAexp20: | 1.2837 | |
| MAexp50: | 1.2843 | |
| MAexp100: | 1.2855 | |
| Price / MA7: | -0.24% | |
| Price / MA20: | +1.95% | |
| Price / MA50: | +3.47% | |
| Price / MA100: | +3.48% | |
| Price / MAexp7: | +0.16% | |
| Price / MAexp20: | +0.23% | |
| Price / MAexp50: | +0.18% | |
| Price / MAexp100: | +0.09% |
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 Technical Analysis for October 28, 2019 by FXEmpire
-
GBP/USD Technical Analysis for the week of October 28, 2019 by FXEmpire
-
GBP/USD Technical Analysis for October 25, 2019 by FXEmpire
-
GBP/USD Technical Analysis for October 24, 2019 by FXEmpire
-
GBP/USD Technical Analysis for October 23, 2019 by FXEmpire
This member declared not having a position on this financial instrument or a related financial instrument.
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