EUR/GBP

- GBP (-)

- Real time data - Forex

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High / Low range:	-

Type:	Forex
Ticker:	EURGBP
ISIN:

EUR/GBP - 1H - Technical analysis published on 05/16/2024 (GMT)

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

22%

39%

My opinion

Bearish under 0.8590 GBP

My targets

0.8562 GBP (-0.0015)

0.8531 GBP (-0.0046)

My analysis

The bearish trend is currently very strong for EUR/GBP. As long as the price remains below the resistance at 0.8590 GBP, you could try to take advantage of the bearish rally. The first bearish objective is located at 0.8562 GBP. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 0.8531 GBP as an objective. Crossing it would then enable sellers to target 0.8511 GBP. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. 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.

In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.

Force

6.6

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

EUR/GBP rating 0.8577 GBP. The price is lower by -0.05% since the last closing and was between 0.8574 GBP and 0.8588 GBP. This implies that the price is at +0.03% from its lowest and at -0.13% from its highest.

0.8574

0.8588

0.8577

A study of price movements over other periods shows the following variations:

The Central Records scanner, which identifies the highest / lowest, has detected several elements:

Near a new LOW record (5 years)

Type : Bearish

Timeframe : Weekly

Near a new HIGH record (1 year)

Type : Bullish

Timeframe : Weekly

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 1H chart of EUR/GBP indicates that the overall trend is strongly bearish. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 4 are bullish, 7 are neutral and 7 are bearish. Other results related to technical indicators were also found by the Central Indicators scanner:

Price is back under the pivot point

Type : Bearish

Timeframe : Weekly

Momentum indicator is back over 0

Type : Bullish

Timeframe : 1 hour

An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:

Near horizontal support

Type : Bullish

Timeframe : 1 hour

Near support of triangle

Type : Bullish

Timeframe : 1 hour

Support of channel is broken

Type : Bearish

Timeframe : 1 hour

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	0.8556	0.8562	0.8575	0.8577	0.8590	0.8596	0.8609
Change (%)	-0.24%	-0.17%	-0.02%	-	+0.15%	+0.22%	+0.37%
Change	-0.0021	-0.0015	-0.0002	-	+0.0013	+0.0019	+0.0032
Level	Minor	Intermediate	Major	-	Minor	Intermediate	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	0.8546	0.8560	0.8571	0.8585	0.8596	0.8610	0.8621
Camarilla	0.8574	0.8576	0.8579	0.8581	0.8583	0.8586	0.8588
Woodie	0.8544	0.8559	0.8569	0.8584	0.8594	0.8609	0.8619
Fibonacci	0.8560	0.8570	0.8576	0.8585	0.8595	0.8601	0.8610

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.8498	0.8527	0.8563	0.8592	0.8628	0.8657	0.8693
Camarilla	0.8581	0.8587	0.8593	0.8599	0.8605	0.8611	0.8617
Woodie	0.8502	0.8529	0.8567	0.8594	0.8632	0.8659	0.8697
Fibonacci	0.8527	0.8552	0.8567	0.8592	0.8617	0.8632	0.8657

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.8368	0.8445	0.8492	0.8569	0.8616	0.8693	0.8740
Camarilla	0.8506	0.8517	0.8529	0.8540	0.8551	0.8563	0.8574
Woodie	0.8354	0.8438	0.8478	0.8562	0.8602	0.8686	0.8726
Fibonacci	0.8445	0.8492	0.8521	0.8569	0.8616	0.8645	0.8693

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):	45.00
MACD (12,26,9):	-0.0002
Directional Movement:	-3.1724
AROON (14):	35.7143
DEMA (21):	0.8578
Parabolic SAR (0,02-0,02-0,2):	0.8588
Elder Ray (13):	-0.0002
Super Trend (3,10):	0.8593
Zig ZAG (10):	0.8578
VORTEX (21):	0.9630
Stochastique (14,3,5):	21.43
TEMA (21):	0.8578
Williams %R (14):	-71.43
Chande Momentum Oscillator (20):	0.0002
Repulse (5,40,3):	-0.0116
ROCnROLL:	2
TRIX (15,9):	-0.0025
Courbe Coppock:	0.01

MA7:	0.8593
MA20:	0.8582
MA50:	0.8566
MA100:	0.8567
MAexp7:	0.8579
MAexp20:	0.8580
MAexp50:	0.8584
MAexp100:	0.8588
Price / MA7:	-0.19%
Price / MA20:	-0.06%
Price / MA50:	+0.13%
Price / MA100:	+0.12%
Price / MAexp7:	-0.02%
Price / MAexp20:	-0.03%
Price / MAexp50:	-0.08%
Price / MAexp100:	-0.13%

Quotes : - Real time data - Forex

News

The latest news and videos published on EUR/GBP at the time of the analysis were as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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