GBP/PLN - Daily - Technical analysis published on 09/10/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
83%
6%
11%
My opinion
Bullish above 5.3290 PLN
My targets
5.4204 PLN (+0.0410)
5.4610 PLN (+0.0816)
My analysis
GBP/PLN 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 5.3290 PLN. The next resistance located at 5.4204 PLN 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 5.4610 PLN. After this resistance, buyers could then target 5.4950 PLN. 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.
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
0
10
7.9
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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/PLN price is 5.3794 PLN. The price is lower by -0.29% since the last closing with the lowest point at 5.3561 PLN and the highest point at 5.3950 PLN. The deviation from the price is +0.44% for the low point and -0.29% for the high point.5.3561
5.3950
5.3794
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
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 Daily of this GBP/PLN chart shows a strongly bullish trend. 85.71% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : Daily
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Weekly
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:
Resistance of channel is broken
Type : Bullish
Timeframe : Daily
Horizontal support is broken
Type : Bearish
Timeframe : Daily
For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:
Bearish harami
Type : Bearish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 5.1912 | 5.2454 | 5.3290 | 5.3794 | 5.3846 | 5.4204 | 5.4610 |
| Change (%) | -3.50% | -2.49% | -0.94% | - | +0.10% | +0.76% | +1.52% |
| Change | -0.1882 | -0.1340 | -0.0504 | - | +0.0052 | +0.0410 | +0.0816 |
| Level | Minor | Major | Major | - | Minor | Major | Minor |
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 | 5.2635 | 5.2922 | 5.3436 | 5.3723 | 5.4237 | 5.4524 | 5.5038 |
| Camarilla | 5.3730 | 5.3803 | 5.3877 | 5.3950 | 5.4023 | 5.4097 | 5.4170 |
| Woodie | 5.2749 | 5.2979 | 5.3550 | 5.3780 | 5.4351 | 5.4581 | 5.5152 |
| Fibonacci | 5.2922 | 5.3228 | 5.3417 | 5.3723 | 5.4029 | 5.4218 | 5.4524 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.1432 | 5.1635 | 5.1924 | 5.2127 | 5.2416 | 5.2619 | 5.2908 |
| Camarilla | 5.2077 | 5.2122 | 5.2167 | 5.2212 | 5.2257 | 5.2302 | 5.2347 |
| Woodie | 5.1474 | 5.1657 | 5.1966 | 5.2149 | 5.2458 | 5.2641 | 5.2950 |
| Fibonacci | 5.1635 | 5.1823 | 5.1939 | 5.2127 | 5.2315 | 5.2431 | 5.2619 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.9977 | 5.0583 | 5.1430 | 5.2036 | 5.2883 | 5.3489 | 5.4336 |
| Camarilla | 5.1878 | 5.2012 | 5.2145 | 5.2278 | 5.2411 | 5.2544 | 5.2678 |
| Woodie | 5.0099 | 5.0643 | 5.1552 | 5.2096 | 5.3005 | 5.3549 | 5.4458 |
| Fibonacci | 5.0583 | 5.1138 | 5.1481 | 5.2036 | 5.2591 | 5.2934 | 5.3489 |
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): | 73.68 | |
| MACD (12,26,9): | 0.0396 | |
| Directional Movement: | 27.8465 | |
| AROON (14): | 42.8571 | |
| DEMA (21): | 5.2973 | |
| Parabolic SAR (0,02-0,02-0,2): | 5.2049 | |
| Elder Ray (13): | 0.0997 | |
| Super Trend (3,10): | 5.2422 | |
| Zig ZAG (10): | 5.3794 | |
| VORTEX (21): | 1.2695 | |
| Stochastique (14,3,5): | 90.49 | |
| TEMA (21): | 5.3280 | |
| Williams %R (14): | -9.95 | |
| Chande Momentum Oscillator (20): | 0.1487 | |
| Repulse (5,40,3): | 2.0108 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0600 | |
| Courbe Coppock: | 3.01 |
| MA7: | 5.2924 | |
| MA20: | 5.2435 | |
| MA50: | 5.2002 | |
| MA100: | 5.2014 | |
| MAexp7: | 5.3120 | |
| MAexp20: | 5.2531 | |
| MAexp50: | 5.2197 | |
| MAexp100: | 5.2254 | |
| Price / MA7: | +1.64% | |
| Price / MA20: | +2.59% | |
| Price / MA50: | +3.45% | |
| Price / MA100: | +3.42% | |
| Price / MAexp7: | +1.27% | |
| Price / MAexp20: | +2.40% | |
| Price / MAexp50: | +3.06% | |
| Price / MAexp100: | +2.95% |
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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