GBP/SEK - 1H - Technical analysis published on 01/30/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
61%
11%
28%
My opinion
Bullish above 12.7172 SEK
My targets
12.8087 SEK (+0.0317)
12.9500 SEK (+0.1730)
My analysis
Has the basic bullish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bullish movement or a correction. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the support located at 12.7172 SEK remains possible. It is advisable to trade GBP/SEK with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 12.7172 SEK. The next bullish objective for buyers is set at 12.8087 SEK. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 12.9500 SEK. If there is any crossing, the next objective would be the resistance located at 13.0926 SEK. PS: if there is a bearish break in the support located at 12.7172 SEK 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, 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
5.5
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Additional analysis
Quotes
The GBP/SEK price is 12.7770 SEK. On the day, this instrument lost -0.01% with the lowest point at 12.7569 SEK and the highest point at 12.8274 SEK. The deviation from the price is +0.16% for the low point and -0.39% for the high point.12.7569
12.8274
12.7770
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
So that you have an overall view of the price change, here is a table showing the variations over several periods:
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 LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of GBP/SEK in 1H shows an overall bullish trend. 78.57% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. There is no crossing of moving average by the price or crossing of moving averages between themselves.
An assessment of technical indicators shows a moderate bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : 1 hour
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : 1 hour
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 resistance of channel
Type : Bearish
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 harami
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 12.5447 | 12.6591 | 12.7172 | 12.7770 | 12.8087 | 13.0926 | 13.5821 |
| Change (%) | -1.82% | -0.92% | -0.47% | - | +0.25% | +2.47% | +6.30% |
| Change | -0.2323 | -0.1179 | -0.0598 | - | +0.0317 | +0.3156 | +0.8051 |
| Level | Minor | Intermediate | Major | - | Major | 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 | 12.6687 | 12.6956 | 12.7367 | 12.7636 | 12.8047 | 12.8316 | 12.8727 |
| Camarilla | 12.7592 | 12.7654 | 12.7717 | 12.7779 | 12.7841 | 12.7904 | 12.7966 |
| Woodie | 12.6759 | 12.6992 | 12.7439 | 12.7672 | 12.8119 | 12.8352 | 12.8799 |
| Fibonacci | 12.6956 | 12.7215 | 12.7376 | 12.7636 | 12.7895 | 12.8056 | 12.8316 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 12.3726 | 12.4586 | 12.6183 | 12.7043 | 12.8640 | 12.9500 | 13.1097 |
| Camarilla | 12.7103 | 12.7329 | 12.7554 | 12.7779 | 12.8004 | 12.8230 | 12.8455 |
| Woodie | 12.4094 | 12.4770 | 12.6551 | 12.7227 | 12.9008 | 12.9684 | 13.1465 |
| Fibonacci | 12.4586 | 12.5525 | 12.6105 | 12.7043 | 12.7982 | 12.8562 | 12.9500 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 12.1019 | 12.2927 | 12.4525 | 12.6433 | 12.8031 | 12.9939 | 13.1537 |
| Camarilla | 12.5160 | 12.5481 | 12.5803 | 12.6124 | 12.6445 | 12.6767 | 12.7088 |
| Woodie | 12.0865 | 12.2850 | 12.4371 | 12.6356 | 12.7877 | 12.9862 | 13.1383 |
| Fibonacci | 12.2927 | 12.4266 | 12.5093 | 12.6433 | 12.7772 | 12.8599 | 12.9939 |
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): | 65.50 | |
| MACD (12,26,9): | 0.0142 | |
| Directional Movement: | 14.6796 | |
| AROON (14): | 50.0000 | |
| DEMA (21): | 12.7983 | |
| Parabolic SAR (0,02-0,02-0,2): | 12.7727 | |
| Elder Ray (13): | 0.0276 | |
| Super Trend (3,10): | 12.7524 | |
| Zig ZAG (10): | 12.8008 | |
| VORTEX (21): | 1.1278 | |
| Stochastique (14,3,5): | 76.51 | |
| TEMA (21): | 12.7954 | |
| Williams %R (14): | -45.39 | |
| Chande Momentum Oscillator (20): | 0.0170 | |
| Repulse (5,40,3): | -0.0608 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0153 | |
| Courbe Coppock: | 0.31 |
| MA7: | 12.7137 | |
| MA20: | 12.7163 | |
| MA50: | 12.6687 | |
| MA100: | 12.5751 | |
| MAexp7: | 12.7904 | |
| MAexp20: | 12.7787 | |
| MAexp50: | 12.7487 | |
| MAexp100: | 12.7218 | |
| Price / MA7: | +0.50% | |
| Price / MA20: | +0.48% | |
| Price / MA50: | +0.85% | |
| Price / MA100: | +1.61% | |
| Price / MAexp7: | -0.10% | |
| Price / MAexp20: | -0.01% | |
| Price / MAexp50: | +0.22% | |
| Price / MAexp100: | +0.43% |
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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