GBP/SEK - 1H - Technical analysis published on 02/10/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
33%
39%
28%
My opinion
Bearish under 12.5849 SEK
My targets
12.4923 SEK (-0.0393)
12.4386 SEK (-0.0930)
My analysis
GBP/SEK is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 12.5849 SEK. The next support located at 12.4923 SEK is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 12.4386 SEK. Below this support, sellers could then target 12.2601 SEK. With the current pattern, you will need to monitor for possible bearish 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 bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
6.3
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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/SEK price is 12.5316 SEK. The price is lower by -0.01% since the last closing and was traded between 12.5253 SEK and 12.5452 SEK over the period. The price is currently at +0.05% from its lowest and -0.11% from its highest.12.5253
12.5452
12.5316
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
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 (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this GBP/SEK 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. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
On the 18 technical indicators analysed, 6 are bullish, 5 are neutral and 7 are bearish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
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 | 12.4386 | 12.4923 | 12.5238 | 12.5316 | 12.5849 | 12.6598 | 12.7236 |
| Change (%) | -0.74% | -0.31% | -0.06% | - | +0.43% | +1.02% | +1.53% |
| Change | -0.0930 | -0.0393 | -0.0078 | - | +0.0533 | +0.1282 | +0.1920 |
| Level | Minor | Minor | Intermediate | - | Intermediate | Minor | Major |
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 | 12.1825 | 12.3531 | 12.4429 | 12.6135 | 12.7033 | 12.8739 | 12.9637 |
| Camarilla | 12.4610 | 12.4849 | 12.5087 | 12.5326 | 12.5565 | 12.5803 | 12.6042 |
| Woodie | 12.1420 | 12.3329 | 12.4024 | 12.5933 | 12.6628 | 12.8537 | 12.9232 |
| Fibonacci | 12.3531 | 12.4526 | 12.5141 | 12.6135 | 12.7130 | 12.7745 | 12.8739 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 12.3046 | 12.4765 | 12.5937 | 12.7656 | 12.8828 | 13.0547 | 13.1719 |
| Camarilla | 12.6314 | 12.6579 | 12.6844 | 12.7109 | 12.7374 | 12.7639 | 12.7904 |
| Woodie | 12.2773 | 12.4628 | 12.5664 | 12.7519 | 12.8555 | 13.0410 | 13.1446 |
| Fibonacci | 12.4765 | 12.5869 | 12.6552 | 12.7656 | 12.8760 | 12.9443 | 13.0547 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 12.2245 | 12.3846 | 12.6173 | 12.7774 | 13.0101 | 13.1702 | 13.4029 |
| Camarilla | 12.7420 | 12.7780 | 12.8140 | 12.8500 | 12.8860 | 12.9220 | 12.9580 |
| Woodie | 12.2608 | 12.4028 | 12.6536 | 12.7956 | 13.0464 | 13.1884 | 13.4392 |
| Fibonacci | 12.3846 | 12.5347 | 12.6274 | 12.7774 | 12.9275 | 13.0202 | 13.1702 |
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): | 27.30 | |
| MACD (12,26,9): | -0.0455 | |
| Directional Movement: | -28.4530 | |
| AROON (14): | -7.1429 | |
| DEMA (21): | 12.5098 | |
| Parabolic SAR (0,02-0,02-0,2): | 12.5553 | |
| Elder Ray (13): | -0.0208 | |
| Super Trend (3,10): | 12.5857 | |
| Zig ZAG (10): | 12.5288 | |
| VORTEX (21): | 0.6671 | |
| Stochastique (14,3,5): | 7.90 | |
| TEMA (21): | 12.5001 | |
| Williams %R (14): | -89.85 | |
| Chande Momentum Oscillator (20): | -0.0149 | |
| Repulse (5,40,3): | -0.0340 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0600 | |
| Courbe Coppock: | 0.85 |
| MA7: | 12.6793 | |
| MA20: | 12.7242 | |
| MA50: | 12.6829 | |
| MA100: | 12.6076 | |
| MAexp7: | 12.5348 | |
| MAexp20: | 12.5726 | |
| MAexp50: | 12.6436 | |
| MAexp100: | 12.6891 | |
| Price / MA7: | -1.16% | |
| Price / MA20: | -1.51% | |
| Price / MA50: | -1.19% | |
| Price / MA100: | -0.60% | |
| Price / MAexp7: | -0.03% | |
| Price / MAexp20: | -0.33% | |
| Price / MAexp50: | -0.89% | |
| Price / MAexp100: | -1.24% |
Quotes :
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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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