GBP/MXN - 1H - Technical analysis published on 12/12/2023 (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:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
33%
44%
22%
My opinion
Bearish under 21.9083 MXN
My targets
21.7352 MXN (-0.0754)
21.5987 MXN (-0.2119)
My analysis
GBP/MXN is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 21.9083 MXN. The next support located at 21.7352 MXN is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 21.5987 MXN. Below this support, sellers could then target 21.2678 MXN. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
6.1
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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 rating is 21.8106 MXN. On the day, this instrument lost -0.06% and was between 21.7652 MXN and 21.8523 MXN. This implies that the price is at +0.21% from its lowest and at -0.19% from its highest.21.7652
21.8523
21.8106
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by GBP/MXN:
Near a new LOW record (5 years)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this GBP/MXN chart shows a sharp bearish trend. 89.29% 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 market scanner currently does not detect any result that concerns moving averages.
On the 18 technical indicators analysed, 6 are bullish, 4 are neutral and 8 are bearish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near resistance of triangle
Type : Bearish
Timeframe : 1 hour
There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:
Black hanging man / hammer
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 21.5987 | 21.7352 | 21.7951 | 21.8106 | 21.9083 | 21.9895 | 22.0875 |
| Change (%) | -0.97% | -0.35% | -0.07% | - | +0.45% | +0.82% | +1.27% |
| Change | -0.2119 | -0.0754 | -0.0155 | - | +0.0977 | +0.1789 | +0.2769 |
| Level | Minor | Intermediate | Minor | - | Intermediate | 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 | 21.5133 | 21.6230 | 21.7230 | 21.8327 | 21.9327 | 22.0424 | 22.1424 |
| Camarilla | 21.7652 | 21.7845 | 21.8037 | 21.8229 | 21.8421 | 21.8614 | 21.8806 |
| Woodie | 21.5084 | 21.6206 | 21.7181 | 21.8303 | 21.9278 | 22.0400 | 22.1375 |
| Fibonacci | 21.6230 | 21.7031 | 21.7526 | 21.8327 | 21.9128 | 21.9623 | 22.0424 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 21.0924 | 21.3869 | 21.5765 | 21.8710 | 22.0606 | 22.3551 | 22.5447 |
| Camarilla | 21.6329 | 21.6773 | 21.7216 | 21.7660 | 21.8104 | 21.8548 | 21.8991 |
| Woodie | 21.0399 | 21.3607 | 21.5240 | 21.8448 | 22.0081 | 22.3289 | 22.4922 |
| Fibonacci | 21.3869 | 21.5719 | 21.6861 | 21.8710 | 22.0560 | 22.1702 | 22.3551 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 20.6480 | 20.9771 | 21.4701 | 21.7992 | 22.2922 | 22.6213 | 23.1143 |
| Camarilla | 21.7371 | 21.8125 | 21.8878 | 21.9632 | 22.0386 | 22.1139 | 22.1893 |
| Woodie | 20.7301 | 21.0181 | 21.5522 | 21.8402 | 22.3743 | 22.6623 | 23.1964 |
| Fibonacci | 20.9771 | 21.2911 | 21.4851 | 21.7992 | 22.1132 | 22.3072 | 22.6213 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 42.24 | |
| MACD (12,26,9): | -0.0107 | |
| Directional Movement: | -8.5110 | |
| AROON (14): | -28.5714 | |
| DEMA (21): | 21.8129 | |
| Parabolic SAR (0,02-0,02-0,2): | 21.7667 | |
| Elder Ray (13): | -0.0266 | |
| Super Trend (3,10): | 21.8787 | |
| Zig ZAG (10): | 21.7978 | |
| VORTEX (21): | 0.8175 | |
| Stochastique (14,3,5): | 53.00 | |
| TEMA (21): | 21.8063 | |
| Williams %R (14): | -59.36 | |
| Chande Momentum Oscillator (20): | -0.0374 | |
| Repulse (5,40,3): | -0.0015 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0037 | |
| Courbe Coppock: | 0.34 |
| MA7: | 21.8623 | |
| MA20: | 21.7124 | |
| MA50: | 21.8337 | |
| MA100: | 21.6786 | |
| MAexp7: | 21.8085 | |
| MAexp20: | 21.8249 | |
| MAexp50: | 21.8368 | |
| MAexp100: | 21.8487 | |
| Price / MA7: | -0.24% | |
| Price / MA20: | +0.45% | |
| Price / MA50: | -0.11% | |
| Price / MA100: | +0.61% | |
| Price / MAexp7: | +0.01% | |
| Price / MAexp20: | -0.07% | |
| Price / MAexp50: | -0.12% | |
| Price / MAexp100: | -0.17% |
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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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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