GBP/MXN - 1H - Technical analysis published on 04/25/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
72%
11%
17%
My opinion
Bullish above 22.4392 MXN
My targets
22.5215 MXN (+0.0488)
22.5626 MXN (+0.0899)
My analysis
The bullish trend is currently very strong on GBP/MXN. As long as the price remains above the support at 22.4392 MXN, you could try to benefit from the boom. The first bullish objective is located at 22.5215 MXN. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 22.5626 MXN as an objective. Crossing it would then enable buyers to target 22.7036 MXN. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. 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 bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
7.7
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
GBP/MXN rating 22.4727 MXN. The price registered an increase of +0.00% on the session with the lowest point at 22.4628 MXN and the highest point at 22.4953 MXN. The deviation from the price is +0.04% for the low point and -0.10% for the high point.22.4628
22.4953
22.4727
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
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 (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this GBP/MXN chart shows a strongly bullish trend. 89.29% 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.
In fact, 13 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
RSI indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel 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 | 22.2742 | 22.3762 | 22.4392 | 22.4727 | 22.5215 | 22.5626 | 22.7036 |
| Change (%) | -0.88% | -0.43% | -0.15% | - | +0.22% | +0.40% | +1.03% |
| Change | -0.1985 | -0.0965 | -0.0335 | - | +0.0488 | +0.0899 | +0.2309 |
| Level | Major | Minor | Minor | - | 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 | 22.2468 | 22.2988 | 22.3858 | 22.4378 | 22.5248 | 22.5768 | 22.6638 |
| Camarilla | 22.4346 | 22.4473 | 22.4601 | 22.4728 | 22.4855 | 22.4983 | 22.5110 |
| Woodie | 22.2643 | 22.3076 | 22.4033 | 22.4466 | 22.5423 | 22.5856 | 22.6813 |
| Fibonacci | 22.2988 | 22.3519 | 22.3847 | 22.4378 | 22.4909 | 22.5237 | 22.5768 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 21.9376 | 22.1012 | 22.2355 | 22.3991 | 22.5334 | 22.6970 | 22.8313 |
| Camarilla | 22.2880 | 22.3153 | 22.3426 | 22.3699 | 22.3972 | 22.4245 | 22.4518 |
| Woodie | 21.9231 | 22.0939 | 22.2210 | 22.3918 | 22.5189 | 22.6897 | 22.8168 |
| Fibonacci | 22.1012 | 22.2150 | 22.2853 | 22.3991 | 22.5129 | 22.5832 | 22.6970 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 18.9266 | 20.0629 | 21.1629 | 22.2992 | 23.3992 | 24.5355 | 25.6355 |
| Camarilla | 21.6480 | 21.8530 | 22.0580 | 22.2630 | 22.4680 | 22.6730 | 22.8780 |
| Woodie | 18.9086 | 20.0538 | 21.1449 | 22.2901 | 23.3812 | 24.5264 | 25.6175 |
| Fibonacci | 20.0629 | 20.9171 | 21.4449 | 22.2992 | 23.1534 | 23.6812 | 24.5355 |
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): | 60.48 | |
| MACD (12,26,9): | 0.0203 | |
| Directional Movement: | 13.2902 | |
| AROON (14): | 85.7142 | |
| DEMA (21): | 22.4710 | |
| Parabolic SAR (0,02-0,02-0,2): | 22.4004 | |
| Elder Ray (13): | 0.0266 | |
| Super Trend (3,10): | 22.3897 | |
| Zig ZAG (10): | 22.4773 | |
| VORTEX (21): | 1.0947 | |
| Stochastique (14,3,5): | 86.57 | |
| TEMA (21): | 22.4818 | |
| Williams %R (14): | -18.30 | |
| Chande Momentum Oscillator (20): | -0.0003 | |
| Repulse (5,40,3): | -0.0148 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0112 | |
| Courbe Coppock: | 0.39 |
| MA7: | 22.4118 | |
| MA20: | 22.4788 | |
| MA50: | 22.3627 | |
| MA100: | 22.8572 | |
| MAexp7: | 22.4680 | |
| MAexp20: | 22.4458 | |
| MAexp50: | 22.4244 | |
| MAexp100: | 22.4230 | |
| Price / MA7: | +0.27% | |
| Price / MA20: | -0.03% | |
| Price / MA50: | +0.49% | |
| Price / MA100: | -1.68% | |
| Price / MAexp7: | +0.02% | |
| Price / MAexp20: | +0.12% | |
| Price / MAexp50: | +0.22% | |
| Price / MAexp100: | +0.22% |
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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