GBP/MXN - 1H - Technical analysis published on 10/04/2021 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
56%
17%
28%
My opinion
Bullish above 27.7112 MXN
My targets
27.8889 MXN (+0.0887)
28.0922 MXN (+0.2920)
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/MXN as long as the price remains well above 27.7112 MXN. The buyers' bullish objective is set at 27.8889 MXN. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 28.0922 MXN. If there is any crossing, the next objective would be the resistance located at 28.5590 MXN. 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.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
6.3
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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/MXN rating 27.8002 MXN. The price has increased by +0.35% since the last closing with the lowest point at 27.6649 MXN and the highest point at 27.8075 MXN. The deviation from the price is +0.49% for the low point and -0.03% for the high point.27.6649
27.8075
27.8002
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
A study of price movements over other periods shows the following variations:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Technical
A technical analysis in 1H of this GBP/MXN chart shows a strongly bullish trend. 85.71% 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. 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.
Other results related to technical indicators were also found by the Central Indicators scanner:
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Bearish harami
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 27.5239 | 27.6213 | 27.7112 | 27.8002 | 27.8889 | 28.5590 | 29.3063 |
| Change (%) | -0.99% | -0.64% | -0.32% | - | +0.32% | +2.73% | +5.42% |
| Change | -0.2763 | -0.1789 | -0.0890 | - | +0.0887 | +0.7588 | +1.5061 |
| Level | Minor | Intermediate | Major | - | Intermediate | Intermediate | 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 | 26.6394 | 26.9595 | 27.3658 | 27.6859 | 28.0922 | 28.4123 | 28.8186 |
| Camarilla | 27.5723 | 27.6389 | 27.7055 | 27.7721 | 27.8387 | 27.9053 | 27.9719 |
| Woodie | 26.6825 | 26.9811 | 27.4089 | 27.7075 | 28.1353 | 28.4339 | 28.8617 |
| Fibonacci | 26.9595 | 27.2370 | 27.4084 | 27.6859 | 27.9634 | 28.1348 | 28.4123 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 26.6394 | 26.9595 | 27.3658 | 27.6859 | 28.0922 | 28.4123 | 28.8186 |
| Camarilla | 27.5723 | 27.6389 | 27.7055 | 27.7721 | 27.8387 | 27.9053 | 27.9719 |
| Woodie | 26.6825 | 26.9811 | 27.4089 | 27.7075 | 28.1353 | 28.4339 | 28.8617 |
| Fibonacci | 26.9595 | 27.2370 | 27.4084 | 27.6859 | 27.9634 | 28.1348 | 28.4123 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 26.6394 | 26.9595 | 27.3658 | 27.6859 | 28.0922 | 28.4123 | 28.8186 |
| Camarilla | 27.5723 | 27.6389 | 27.7055 | 27.7721 | 27.8387 | 27.9053 | 27.9719 |
| Woodie | 26.6825 | 26.9811 | 27.4089 | 27.7075 | 28.1353 | 28.4339 | 28.8617 |
| Fibonacci | 26.9595 | 27.2370 | 27.4084 | 27.6859 | 27.9634 | 28.1348 | 28.4123 |
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): | 49.88 | |
| MACD (12,26,9): | -0.0201 | |
| Directional Movement: | -1.4410 | |
| AROON (14): | -42.8571 | |
| DEMA (21): | 27.6755 | |
| Parabolic SAR (0,02-0,02-0,2): | 27.4566 | |
| Elder Ray (13): | 0.0110 | |
| Super Trend (3,10): | 27.5133 | |
| Zig ZAG (10): | 27.7120 | |
| VORTEX (21): | 0.9129 | |
| Stochastique (14,3,5): | 81.34 | |
| TEMA (21): | 27.6525 | |
| Williams %R (14): | -10.38 | |
| Chande Momentum Oscillator (20): | -0.0172 | |
| Repulse (5,40,3): | 0.1907 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0116 | |
| Courbe Coppock: | 0.39 |
| MA7: | 27.6867 | |
| MA20: | 27.5628 | |
| MA50: | 27.6239 | |
| MA100: | 27.7612 | |
| MAexp7: | 27.6895 | |
| MAexp20: | 27.7000 | |
| MAexp50: | 27.6987 | |
| MAexp100: | 27.6529 | |
| Price / MA7: | +0.41% | |
| Price / MA20: | +0.86% | |
| Price / MA50: | +0.64% | |
| Price / MA100: | +0.14% | |
| Price / MAexp7: | +0.40% | |
| Price / MAexp20: | +0.36% | |
| Price / MAexp50: | +0.37% | |
| Price / MAexp100: | +0.53% |
Quotes :
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Real time data
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Forex
This member declared not having a position on this financial instrument or a related financial instrument.
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