GBP/NOK

- NOK (-)

- Real time data - Forex

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Change:	-
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High / Low range:	-

Type:	Forex
Ticker:	GBPNOK
ISIN:

GBP/NOK - 1H - Technical analysis published on 08/02/2024 (GMT)

Londinia

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Slightly bearish

Technical indicators

89%

11%

My opinion

Bullish above 13.9745 NOK

My targets

14.0574 NOK (+0.0261)

14.2244 NOK (+0.1931)

My analysis

The current short-term bullish trend is expected to quickly reset the neutral or bullish trend. To avoid contradicting the short term, it would be possible to favour long positions (at the time of purchase) for GBP/NOK as long as the price remains well above 13.9745 NOK. The buyers' bullish objective is set at 14.0574 NOK. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 14.2244 NOK. If there is any crossing, the next objective would be the resistance located at 14.3424 NOK. As the basic trend is not clearly displayed, attention should be paid to the price reaction to the resistance at 14.0574 NOK. On this resistance, against the trend traders who would like to go short on GBP/NOK with a bearish signal from their trading strategy, should not hesitate to act.

Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

3.6

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

GBP/NOK rating 14.0313 NOK. On the day, this instrument gained +0.61% and was traded between 13.9052 NOK and 14.0552 NOK over the period. The price is currently at +0.91% from its lowest and -0.17% from its highest.

13.9052

14.0552

14.0313

A study of price movements over other periods shows the following variations:

The Central Records scanner for higher/lower results shows the following items:

Near a new HIGH record (5 years)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1 year)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

A technical analysis in 1H of this GBP/NOK chart shows a slightly bearish trend. 53.57% of the signals given by moving averages are bearish. Caution: the strong bullish signals currently being given by short-term moving averages indicate that this slightly bearish trend could quickly be reversed. An assessment of moving averages reveals several bearish and bullish signals:

Bearish trend reversal : Moving Average 50

Type : Bearish

Timeframe : 1 hour

Bullish price crossover with Moving Average 100

Type : Bullish

Timeframe : 1 hour

Technical indicators are strongly bullish, suggesting that the price increase should continue.
Caution: the Central Indicators scanner currently detects an excess:

RSI indicator is overbought : over 70

Type : Neutral

Timeframe : 1 hour

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : 1 hour

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : 1 hour

Ichimoku : price is over the cloud

Type : Bullish

Timeframe : 1 hour

An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:

Near horizontal resistance

Type : Bearish

Timeframe : 1 hour

Resistance of channel is broken

Type : Bullish

Timeframe : 1 hour

For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:

Bullish engulfing lines

Type : Bullish

Timeframe : 1 hour

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	13.6262	13.8816	13.9745	14.0313	14.0574	14.2244	14.3424
Change (%)	-2.89%	-1.07%	-0.40%	-	+0.19%	+1.38%	+2.22%
Change	-0.4051	-0.1497	-0.0568	-	+0.0261	+0.1931	+0.3111
Level	Intermediate	Major	Intermediate	-	Minor	Major	Minor

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	13.7202	13.7991	13.8726	13.9515	14.0250	14.1039	14.1774
Camarilla	13.9042	13.9182	13.9321	13.9461	13.9601	13.9740	13.9880
Woodie	13.7175	13.7978	13.8699	13.9502	14.0223	14.1026	14.1747
Fibonacci	13.7991	13.8573	13.8933	13.9515	14.0097	14.0457	14.1039

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	13.7532	13.9025	14.0439	14.1932	14.3346	14.4839	14.6253
Camarilla	14.1055	14.1321	14.1588	14.1854	14.2121	14.2387	14.2653
Woodie	13.7494	13.9005	14.0401	14.1912	14.3308	14.4819	14.6215
Fibonacci	13.9025	14.0135	14.0821	14.1932	14.3042	14.3728	14.4839

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	12.6236	13.0319	13.5258	13.9341	14.4280	14.8363	15.3302
Camarilla	13.7716	13.8543	13.9370	14.0197	14.1024	14.1851	14.2678
Woodie	12.6664	13.0533	13.5686	13.9555	14.4708	14.8577	15.3730
Fibonacci	13.0319	13.3765	13.5895	13.9341	14.2787	14.4917	14.8363

Numerical data

The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:

Technical indicators

Moving averages

RSI (14):	64.02
MACD (12,26,9):	0.0087
Directional Movement:	11.3079
AROON (14):	28.5714
DEMA (21):	13.9710
Parabolic SAR (0,02-0,02-0,2):	13.9258
Elder Ray (13):	0.0374
Super Trend (3,10):	13.9277
Zig ZAG (10):	14.0280
VORTEX (21):	1.1404
Stochastique (14,3,5):	83.48
TEMA (21):	13.9975
Williams %R (14):	-2.49
Chande Momentum Oscillator (20):	0.0890
Repulse (5,40,3):	0.4008
ROCnROLL:	1
TRIX (15,9):	-0.0040
Courbe Coppock:	0.62

MA7:	14.0849
MA20:	13.9960
MA50:	13.6853
MA100:	13.6521
MAexp7:	13.9965
MAexp20:	13.9648
MAexp50:	13.9807
MAexp100:	14.0231
Price / MA7:	-0.38%
Price / MA20:	+0.25%
Price / MA50:	+2.53%
Price / MA100:	+2.78%
Price / MAexp7:	+0.25%
Price / MAexp20:	+0.48%
Price / MAexp50:	+0.36%
Price / MAexp100:	+0.06%

Quotes : - Real time data - Forex

This member declared not having a position on this financial instrument or a related financial instrument.

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Londinia AI

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