GBP/MXN - 1H - Technical analysis published on 07/29/2024 (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
83%
0%
17%
My opinion
Bullish above 23.9276 MXN
My targets
24.0848 MXN (+0.0530)
24.4181 MXN (+0.3863)
My analysis
GBP/MXN is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 23.9276 MXN. The next resistance located at 24.0848 MXN is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 24.4181 MXN. After this resistance, buyers could then target 25.2599 MXN. With the current pattern, you will need to monitor for possible bullish 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 bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
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
8.8
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Additional analysis
Quotes
The GBP/MXN rating is 24.0318 MXN. On the day, this instrument gained +1.18% and was traded between 23.6369 MXN and 24.0777 MXN over the period. The price is currently at +1.67% from its lowest and -0.19% from its highest.23.6369
24.0777
24.0318
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
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. 92.86% 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, 15 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near resistance of channel
Type : Bearish
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 | 23.5497 | 23.7868 | 23.9276 | 24.0318 | 25.2599 | 27.7112 | 29.7163 |
| Change (%) | -2.01% | -1.02% | -0.43% | - | +5.11% | +15.31% | +23.65% |
| Change | -0.4821 | -0.2450 | -0.1042 | - | +1.2281 | +3.6794 | +5.6845 |
| Level | Intermediate | Major | Intermediate | - | Minor | Major | 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 | 23.3513 | 23.4505 | 23.6010 | 23.7002 | 23.8507 | 23.9499 | 24.1004 |
| Camarilla | 23.6828 | 23.7057 | 23.7286 | 23.7515 | 23.7744 | 23.7973 | 23.8202 |
| Woodie | 23.3770 | 23.4633 | 23.6267 | 23.7130 | 23.8764 | 23.9627 | 24.1261 |
| Fibonacci | 23.4505 | 23.5459 | 23.6048 | 23.7002 | 23.7956 | 23.8545 | 23.9499 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 22.4372 | 22.7705 | 23.2610 | 23.5943 | 24.0848 | 24.4181 | 24.9086 |
| Camarilla | 23.5250 | 23.6005 | 23.6760 | 23.7515 | 23.8270 | 23.9025 | 23.9781 |
| Woodie | 22.5158 | 22.8098 | 23.3396 | 23.6336 | 24.1634 | 24.4574 | 24.9872 |
| Fibonacci | 22.7705 | 23.0852 | 23.2796 | 23.5943 | 23.9090 | 24.1034 | 24.4181 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 18.8857 | 20.2299 | 21.6979 | 23.0421 | 24.5101 | 25.8543 | 27.3223 |
| Camarilla | 22.3926 | 22.6503 | 22.9081 | 23.1659 | 23.4237 | 23.6815 | 23.9393 |
| Woodie | 18.9476 | 20.2609 | 21.7598 | 23.0731 | 24.5720 | 25.8853 | 27.3842 |
| Fibonacci | 20.2299 | 21.3042 | 21.9678 | 23.0421 | 24.1164 | 24.7800 | 25.8543 |
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): | 70.04 | |
| MACD (12,26,9): | 0.0760 | |
| Directional Movement: | 25.5221 | |
| AROON (14): | 35.7143 | |
| DEMA (21): | 23.9846 | |
| Parabolic SAR (0,02-0,02-0,2): | 23.8790 | |
| Elder Ray (13): | 0.0890 | |
| Super Trend (3,10): | 23.8280 | |
| Zig ZAG (10): | 24.0170 | |
| VORTEX (21): | 1.1820 | |
| Stochastique (14,3,5): | 84.00 | |
| TEMA (21): | 24.0310 | |
| Williams %R (14): | -8.46 | |
| Chande Momentum Oscillator (20): | 0.3467 | |
| Repulse (5,40,3): | 0.2719 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0372 | |
| Courbe Coppock: | 2.25 |
| MA7: | 23.5910 | |
| MA20: | 23.2347 | |
| MA50: | 22.8927 | |
| MA100: | 22.0003 | |
| MAexp7: | 23.9812 | |
| MAexp20: | 23.8920 | |
| MAexp50: | 23.7964 | |
| MAexp100: | 23.6865 | |
| Price / MA7: | +1.87% | |
| Price / MA20: | +3.43% | |
| Price / MA50: | +4.98% | |
| Price / MA100: | +9.23% | |
| Price / MAexp7: | +0.21% | |
| Price / MAexp20: | +0.59% | |
| Price / MAexp50: | +0.99% | |
| Price / MAexp100: | +1.46% |
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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