GBP/MXN - 1H - Technical analysis published on 11/07/2019 (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
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
33%
44%
22%
My opinion
Bearish under 24.6324 MXN
My targets
24.5372 MXN (-0.18%)
24.4673 MXN (-0.46%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on GBP/MXN as long as the price remains well below 24.6324 MXN. The sellers” bearish objective is set at 24.5372 MXN. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 24.4673 MXN. In case of crossing, the next objective would be the support located at 24.4087 MXN. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
FORCE
0
10
6.4
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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
The GBP/MXN rating is 24.5804 MXN. The price is lower by -0.24% since the last closing and was traded between 24.5487 MXN and 24.6510 MXN over the period. The price is currently at +0.13% from its lowest and -0.29% from its highest.24.5487
24.6510
24.5804
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 (1st january)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this GBP/MXN chart shows a sharp bearish trend. 92.86% 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. There is no crossing of moving average by the price or crossing of moving averages between themselves.
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : 1 hour
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Horizontal support is broken
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 | 24.4087 | 24.4673 | 24.5372 | 24.5804 | 24.6324 | 24.7025 | 24.7481 |
| Change (%) | -0.70% | -0.46% | -0.18% | - | +0.21% | +0.50% | +0.68% |
| Change | -0.1717 | -0.1131 | -0.0432 | - | +0.0520 | +0.1221 | +0.1677 |
| Level | Minor | Minor | Minor | - | Major | 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 | 24.3372 | 24.4629 | 24.5507 | 24.6764 | 24.7642 | 24.8899 | 24.9777 |
| Camarilla | 24.5797 | 24.5993 | 24.6188 | 24.6384 | 24.6580 | 24.6775 | 24.6971 |
| Woodie | 24.3182 | 24.4534 | 24.5317 | 24.6669 | 24.7452 | 24.8804 | 24.9587 |
| Fibonacci | 24.4629 | 24.5445 | 24.5949 | 24.6764 | 24.7580 | 24.8084 | 24.8899 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 23.9278 | 24.1682 | 24.4474 | 24.6878 | 24.9670 | 25.2074 | 25.4866 |
| Camarilla | 24.5836 | 24.6312 | 24.6789 | 24.7265 | 24.7741 | 24.8218 | 24.8694 |
| Woodie | 23.9471 | 24.1779 | 24.4667 | 24.6975 | 24.9863 | 25.2171 | 25.5059 |
| Fibonacci | 24.1682 | 24.3667 | 24.4894 | 24.6878 | 24.8863 | 25.0090 | 25.2074 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 23.0257 | 23.4137 | 24.1524 | 24.5404 | 25.2791 | 25.6671 | 26.4058 |
| Camarilla | 24.5814 | 24.6846 | 24.7879 | 24.8912 | 24.9945 | 25.0978 | 25.2010 |
| Woodie | 23.2012 | 23.5014 | 24.3279 | 24.6281 | 25.4546 | 25.7548 | 26.5813 |
| Fibonacci | 23.4137 | 23.8441 | 24.1100 | 24.5404 | 24.9708 | 25.2367 | 25.6671 |
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): | 35.72 | |
| MACD (12,26,9): | -0.0316 | |
| Directional Movement: | -16.0236 | |
| AROON (14): | -92.8571 | |
| DEMA (21): | 24.6019 | |
| Parabolic SAR (0,02-0,02-0,2): | 24.6236 | |
| Elder Ray (13): | -0.0283 | |
| Super Trend (3,10): | 24.6914 | |
| Zig ZAG (10): | 24.6112 | |
| VORTEX (21): | 0.8100 | |
| Stochastique (14,3,5): | 28.47 | |
| TEMA (21): | 24.5862 | |
| Williams %R (14): | -49.91 | |
| Chande Momentum Oscillator (20): | -0.0134 | |
| Repulse (5,40,3): | 0.0465 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0175 | |
| Courbe Coppock: | 0.60 |
| MA7: | 24.6965 | |
| MA20: | 24.6321 | |
| MA50: | 24.3641 | |
| MA100: | 24.1334 | |
| MAexp7: | 24.6063 | |
| MAexp20: | 24.6424 | |
| MAexp50: | 24.6827 | |
| MAexp100: | 24.6951 | |
| Price / MA7: | -0.47% | |
| Price / MA20: | -0.21% | |
| Price / MA50: | +0.89% | |
| Price / MA100: | +1.85% | |
| Price / MAexp7: | -0.11% | |
| Price / MAexp20: | -0.25% | |
| Price / MAexp50: | -0.41% | |
| Price / MAexp100: | -0.46% |
This member declared not having a position on this financial instrument or a related financial instrument.
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