GBP/MXN - Daily - Technical analysis published on 02/15/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bearish
Technical indicators
6%
67%
28%
My opinion
Bearish under 22.9650 MXN
My targets
21.8646 MXN (-0.6665)
21.5795 MXN (-0.9516)
My analysis
In the short term, we can see an acceleration in the bearish trend on GBP/MXN, which is a positive signal for sellers. As long as the price remains above 22.9650 MXN, a sale could be considered. The first bearish objective is located at 21.8646 MXN. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 21.5795 MXN as an objective. Crossing it would then enable sellers to target 20.4082 MXN. If the price were to return above 22.9650 MXN, it would probably only trigger a small rebound in the short term to give a better base for restarting. Trading this rebound may be risky.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
6.6
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GBP/MXN price is 22.5311 MXN. The price registered a decrease of -0.01% on the session and was between 22.5112 MXN and 22.5514 MXN. This implies that the price is at +0.09% from its lowest and at -0.09% from its highest.22.5112
22.5514
22.5311
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
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/MXN indicates that the overall trend is bearish. The signals given by moving averages are 78.57% bearish. This bearish trend is reinforced by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
Technical indicators are bearish. There is still some doubt about the decline in the price.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near horizontal support
Type : Bullish
Timeframe : Daily
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 | 20.4082 | 21.8646 | 22.4889 | 22.5311 | 22.9650 | 23.5461 | 24.3734 |
| Change (%) | -9.42% | -2.96% | -0.19% | - | +1.93% | +4.50% | +8.18% |
| Change | -2.1229 | -0.6665 | -0.0422 | - | +0.4339 | +1.0150 | +1.8423 |
| Level | Minor | Major | Intermediate | - | Major | Minor | Intermediate |
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 | 22.2180 | 22.3648 | 22.4490 | 22.5958 | 22.6800 | 22.8268 | 22.9110 |
| Camarilla | 22.4696 | 22.4908 | 22.5119 | 22.5331 | 22.5543 | 22.5755 | 22.5966 |
| Woodie | 22.1866 | 22.3492 | 22.4176 | 22.5802 | 22.6486 | 22.8112 | 22.8796 |
| Fibonacci | 22.3648 | 22.4531 | 22.5076 | 22.5958 | 22.6841 | 22.7386 | 22.8268 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 21.5795 | 22.0283 | 22.2694 | 22.7182 | 22.9593 | 23.4081 | 23.6492 |
| Camarilla | 22.3208 | 22.3840 | 22.4473 | 22.5105 | 22.5737 | 22.6370 | 22.7002 |
| Woodie | 21.4757 | 21.9764 | 22.1656 | 22.6663 | 22.8555 | 23.3562 | 23.5454 |
| Fibonacci | 22.0283 | 22.2918 | 22.4547 | 22.7182 | 22.9817 | 23.1446 | 23.4081 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 21.9717 | 22.3988 | 22.7979 | 23.2250 | 23.6241 | 24.0512 | 24.4503 |
| Camarilla | 22.9699 | 23.0456 | 23.1214 | 23.1971 | 23.2728 | 23.3486 | 23.4243 |
| Woodie | 21.9578 | 22.3918 | 22.7840 | 23.2180 | 23.6102 | 24.0442 | 24.4364 |
| Fibonacci | 22.3988 | 22.7144 | 22.9094 | 23.2250 | 23.5406 | 23.7356 | 24.0512 |
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): | 35.62 | |
| MACD (12,26,9): | -0.2002 | |
| Directional Movement: | -3.7077 | |
| AROON (14): | -85.7143 | |
| DEMA (21): | 22.6453 | |
| Parabolic SAR (0,02-0,02-0,2): | 23.1227 | |
| Elder Ray (13): | -0.2461 | |
| Super Trend (3,10): | 23.2611 | |
| Zig ZAG (10): | 22.5142 | |
| VORTEX (21): | 0.9354 | |
| Stochastique (14,3,5): | 7.16 | |
| TEMA (21): | 22.5283 | |
| Williams %R (14): | -94.95 | |
| Chande Momentum Oscillator (20): | -0.6734 | |
| Repulse (5,40,3): | -1.2700 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0955 | |
| Courbe Coppock: | 5.38 |
| MA7: | 22.6422 | |
| MA20: | 22.9973 | |
| MA50: | 23.3215 | |
| MA100: | 23.0782 | |
| MAexp7: | 22.6447 | |
| MAexp20: | 22.8884 | |
| MAexp50: | 23.1014 | |
| MAexp100: | 23.2760 | |
| Price / MA7: | -0.49% | |
| Price / MA20: | -2.03% | |
| Price / MA50: | -3.39% | |
| Price / MA100: | -2.37% | |
| Price / MAexp7: | -0.50% | |
| Price / MAexp20: | -1.56% | |
| Price / MAexp50: | -2.47% | |
| Price / MAexp100: | -3.20% |
Quotes :
-
Real time data
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Forex
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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