GBP/SEK - 1H - Technical analysis published on 07/12/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
39%
11%
50%
My opinion
Bearish under 13.8650 SEK
My targets
13.7383 SEK (-0.0485)
13.6777 SEK (-0.1091)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on GBP/SEK as long as the price remains well below 13.8650 SEK. The sellers' bearish objective is set at 13.7383 SEK. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 13.6777 SEK. In case of crossing, the next objective would be the support located at 13.5821 SEK. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
5.2
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Additional analysis
Quotes
The GBP/SEK price is 13.7868 SEK. On the day, this instrument lost -0.01% and was traded between 13.7770 SEK and 13.7927 SEK over the period. The price is currently at +0.07% from its lowest and -0.04% from its highest.13.7770
13.7927
13.7868
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
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 HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of GBP/SEK indicates that the overall trend is strongly bearish. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from 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 slight given the direction of the technical indicators.
Central Indicators, the scanner specialised in technical indicators, has identified this signal:
Price is back under the pivot point
Type : Bearish
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 triangle
Type : Bullish
Timeframe : 1 hour
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 engulfing lines
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 13.6777 | 13.7383 | 13.7775 | 13.7868 | 13.8650 | 13.9107 | 13.9672 |
| Change (%) | -0.79% | -0.35% | -0.07% | - | +0.57% | +0.90% | +1.31% |
| Change | -0.1091 | -0.0485 | -0.0093 | - | +0.0782 | +0.1239 | +0.1804 |
| Level | Minor | Minor | Major | - | Minor | Minor | Intermediate |
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 | 13.6413 | 13.7013 | 13.7449 | 13.8049 | 13.8485 | 13.9085 | 13.9521 |
| Camarilla | 13.7599 | 13.7694 | 13.7789 | 13.7884 | 13.7979 | 13.8074 | 13.8169 |
| Woodie | 13.6330 | 13.6972 | 13.7366 | 13.8008 | 13.8402 | 13.9044 | 13.9438 |
| Fibonacci | 13.7013 | 13.7409 | 13.7654 | 13.8049 | 13.8445 | 13.8690 | 13.9085 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 13.3924 | 13.5351 | 13.7100 | 13.8527 | 14.0276 | 14.1703 | 14.3452 |
| Camarilla | 13.7977 | 13.8268 | 13.8559 | 13.8850 | 13.9141 | 13.9432 | 13.9723 |
| Woodie | 13.4086 | 13.5432 | 13.7262 | 13.8608 | 14.0438 | 14.1784 | 14.3614 |
| Fibonacci | 13.5351 | 13.6564 | 13.7313 | 13.8527 | 13.9740 | 14.0489 | 14.1703 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 13.0129 | 13.2018 | 13.4525 | 13.6414 | 13.8921 | 14.0810 | 14.3317 |
| Camarilla | 13.5824 | 13.6227 | 13.6630 | 13.7033 | 13.7436 | 13.7839 | 13.8242 |
| Woodie | 13.0439 | 13.2173 | 13.4835 | 13.6569 | 13.9231 | 14.0965 | 14.3627 |
| Fibonacci | 13.2018 | 13.3697 | 13.4734 | 13.6414 | 13.8093 | 13.9130 | 14.0810 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 39.13 | |
| MACD (12,26,9): | -0.0134 | |
| Directional Movement: | -8.0855 | |
| AROON (14): | -14.2857 | |
| DEMA (21): | 13.7784 | |
| Parabolic SAR (0,02-0,02-0,2): | 13.7634 | |
| Elder Ray (13): | -0.0041 | |
| Super Trend (3,10): | 13.8359 | |
| Zig ZAG (10): | 13.7839 | |
| VORTEX (21): | 0.9145 | |
| Stochastique (14,3,5): | 40.57 | |
| TEMA (21): | 13.7807 | |
| Williams %R (14): | -49.89 | |
| Chande Momentum Oscillator (20): | 0.0152 | |
| Repulse (5,40,3): | -0.0283 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0162 | |
| Courbe Coppock: | 0.28 |
| MA7: | 13.8432 | |
| MA20: | 13.7291 | |
| MA50: | 13.4388 | |
| MA100: | 13.1122 | |
| MAexp7: | 13.7874 | |
| MAexp20: | 13.7977 | |
| MAexp50: | 13.8256 | |
| MAexp100: | 13.8378 | |
| Price / MA7: | -0.41% | |
| Price / MA20: | +0.42% | |
| Price / MA50: | +2.59% | |
| Price / MA100: | +5.14% | |
| Price / MAexp7: | +0.00% | |
| Price / MAexp20: | -0.08% | |
| Price / MAexp50: | -0.28% | |
| Price / MAexp100: | -0.37% |
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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