GBP/PLN - 1H - Technical analysis published on 10/24/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Bullish
Technical indicators
22%
44%
33%
My opinion
Bullish above 5.1894 PLN
My targets
5.2231 PLN (+0.0173)
5.2728 PLN (+0.0670)
My analysis
With a bullish background trend, the price of GBP/PLN is trying to inflate a little with a slight short-term relapse. At this stage, no trend reversal is in sight. Globally, buyers have the upper hand. Traders could allow themselves to trade long positions (at the time of purchase) as long as the price remains above the support located at 5.1894 PLN. A bullish break in the resistance located at 5.2231 PLN would boost the bullish momentum and fuel the basic trend. Then the price could move towards 5.2728 PLN. Then 5.4105 PLN by extension. It would be safer to wait for a bullish break in the resistance located at 5.2231 PLN before allowing yourself to re trade long positions (at purchase) on GBP/PLN. PS: if there is a bearish break in the support located at 5.1894 PLN we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.
In the very short term, the general bullish sentiment is not called into question, despite technical indicators being indecisive.
Force
0
10
0.4
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Additional analysis
Quotes
The GBP/PLN price is 5.2058 PLN. The price registered a decrease of -0.02% on the session and was between 5.2040 PLN and 5.2246 PLN. This implies that the price is at +0.03% from its lowest and at -0.36% from its highest.5.2040
5.2246
5.2058
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 1H of this GBP/PLN chart shows a bullish trend. The signals given by moving averages are 67.86% bullish. This bullish trend could slow down given the slightly bearish signals currently being given by short-term moving averages. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:
Bullish trend reversal : Moving Average 20
Type : Bullish
Timeframe : 1 hour
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near support of channel
Type : Bullish
Timeframe : 1 hour
The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:
Bearish doji star
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 5.1458 | 5.1728 | 5.1894 | 5.2058 | 5.2231 | 5.4105 | 5.4961 |
| Change (%) | -1.15% | -0.63% | -0.32% | - | +0.33% | +3.93% | +5.58% |
| Change | -0.0600 | -0.0330 | -0.0164 | - | +0.0173 | +0.2047 | +0.2903 |
| Level | Minor | Intermediate | Intermediate | - | Intermediate | 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 | 5.1598 | 5.1779 | 5.1924 | 5.2105 | 5.2250 | 5.2431 | 5.2576 |
| Camarilla | 5.1979 | 5.2009 | 5.2039 | 5.2069 | 5.2099 | 5.2129 | 5.2159 |
| Woodie | 5.1580 | 5.1770 | 5.1906 | 5.2096 | 5.2232 | 5.2422 | 5.2558 |
| Fibonacci | 5.1779 | 5.1904 | 5.1981 | 5.2105 | 5.2230 | 5.2307 | 5.2431 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.0607 | 5.0908 | 5.1314 | 5.1615 | 5.2021 | 5.2322 | 5.2728 |
| Camarilla | 5.1527 | 5.1591 | 5.1656 | 5.1721 | 5.1786 | 5.1851 | 5.1915 |
| Woodie | 5.0661 | 5.0934 | 5.1368 | 5.1641 | 5.2075 | 5.2348 | 5.2782 |
| Fibonacci | 5.0908 | 5.1178 | 5.1345 | 5.1615 | 5.1885 | 5.2052 | 5.2322 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.9868 | 5.0216 | 5.0838 | 5.1186 | 5.1808 | 5.2156 | 5.2778 |
| Camarilla | 5.1193 | 5.1282 | 5.1371 | 5.1460 | 5.1549 | 5.1638 | 5.1727 |
| Woodie | 5.0005 | 5.0285 | 5.0975 | 5.1255 | 5.1945 | 5.2225 | 5.2915 |
| Fibonacci | 5.0216 | 5.0587 | 5.0816 | 5.1186 | 5.1557 | 5.1786 | 5.2156 |
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): | 45.03 | |
| MACD (12,26,9): | 0.0002 | |
| Directional Movement: | -2.8954 | |
| AROON (14): | 14.2857 | |
| DEMA (21): | 5.2121 | |
| Parabolic SAR (0,02-0,02-0,2): | 5.2229 | |
| Elder Ray (13): | -0.0035 | |
| Super Trend (3,10): | 5.2010 | |
| Zig ZAG (10): | 5.2075 | |
| VORTEX (21): | 1.0300 | |
| Stochastique (14,3,5): | 12.83 | |
| TEMA (21): | 5.2094 | |
| Williams %R (14): | -89.71 | |
| Chande Momentum Oscillator (20): | -0.0083 | |
| Repulse (5,40,3): | -0.0865 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0036 | |
| Courbe Coppock: | 0.09 |
| MA7: | 5.1844 | |
| MA20: | 5.1565 | |
| MA50: | 5.1055 | |
| MA100: | 5.0932 | |
| MAexp7: | 5.2095 | |
| MAexp20: | 5.2111 | |
| MAexp50: | 5.2067 | |
| MAexp100: | 5.1964 | |
| Price / MA7: | +0.41% | |
| Price / MA20: | +0.96% | |
| Price / MA50: | +1.96% | |
| Price / MA100: | +2.21% | |
| Price / MAexp7: | -0.07% | |
| Price / MAexp20: | -0.10% | |
| Price / MAexp50: | -0.02% | |
| Price / MAexp100: | +0.18% |
Quotes :
-
Real time data
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Forex
News
The latest news and videos published on GBP/PLN at the time of the analysis were as follows:
GBP/PLN Forecast May 31, 2024This 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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