GBP/SGD - 1H - Technical analysis published on 02/27/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
72%
6%
22%
My opinion
Bullish above 1.6987 SGD
My targets
1.7136 SGD (+0.0087)
1.7206 SGD (+0.0157)
My analysis
GBP/SGD 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 1.6987 SGD. The next resistance located at 1.7136 SGD 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 1.7206 SGD. After this resistance, buyers could then target 1.7374 SGD. 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
8.2
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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/SGD rating is 1.7049 SGD. The price is lower by -0.01% since the last closing and was traded between 1.7024 SGD and 1.7058 SGD over the period. The price is currently at +0.15% from its lowest and -0.05% from its highest.1.7024
1.7058
1.7049
A study of price movements over other periods shows the following variations:
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 this 1H chart of GBP/SGD indicates that the overall trend is strongly bullish. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being 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:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.6941 | 1.6987 | 1.7039 | 1.7049 | 1.7066 | 1.7206 | 1.7374 |
| Change (%) | -0.63% | -0.36% | -0.06% | - | +0.10% | +0.92% | +1.91% |
| Change | -0.0108 | -0.0062 | -0.0010 | - | +0.0017 | +0.0157 | +0.0325 |
| Level | Major | Major | Minor | - | 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 | 1.6973 | 1.6994 | 1.7023 | 1.7044 | 1.7073 | 1.7094 | 1.7123 |
| Camarilla | 1.7037 | 1.7042 | 1.7046 | 1.7051 | 1.7056 | 1.7060 | 1.7065 |
| Woodie | 1.6976 | 1.6996 | 1.7026 | 1.7046 | 1.7076 | 1.7096 | 1.7126 |
| Fibonacci | 1.6994 | 1.7013 | 1.7025 | 1.7044 | 1.7063 | 1.7075 | 1.7094 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6804 | 1.6866 | 1.6939 | 1.7001 | 1.7074 | 1.7136 | 1.7209 |
| Camarilla | 1.6976 | 1.6988 | 1.7001 | 1.7013 | 1.7025 | 1.7038 | 1.7050 |
| Woodie | 1.6811 | 1.6869 | 1.6946 | 1.7004 | 1.7081 | 1.7139 | 1.7216 |
| Fibonacci | 1.6866 | 1.6917 | 1.6949 | 1.7001 | 1.7052 | 1.7084 | 1.7136 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6415 | 1.6569 | 1.6782 | 1.6936 | 1.7149 | 1.7303 | 1.7516 |
| Camarilla | 1.6894 | 1.6928 | 1.6961 | 1.6995 | 1.7029 | 1.7062 | 1.7096 |
| Woodie | 1.6445 | 1.6584 | 1.6812 | 1.6951 | 1.7179 | 1.7318 | 1.7546 |
| Fibonacci | 1.6569 | 1.6709 | 1.6796 | 1.6936 | 1.7076 | 1.7163 | 1.7303 |
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): | 55.55 | |
| MACD (12,26,9): | 0.0001 | |
| Directional Movement: | -0.0075 | |
| AROON (14): | -7.1429 | |
| DEMA (21): | 1.7046 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.7027 | |
| Elder Ray (13): | 0.0002 | |
| Super Trend (3,10): | 1.7017 | |
| Zig ZAG (10): | 1.7050 | |
| VORTEX (21): | 1.0141 | |
| Stochastique (14,3,5): | 87.03 | |
| TEMA (21): | 1.7044 | |
| Williams %R (14): | -7.14 | |
| Chande Momentum Oscillator (20): | 0.0009 | |
| Repulse (5,40,3): | 0.0542 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 0.01 |
| MA7: | 1.7001 | |
| MA20: | 1.6982 | |
| MA50: | 1.6954 | |
| MA100: | 1.6855 | |
| MAexp7: | 1.7046 | |
| MAexp20: | 1.7044 | |
| MAexp50: | 1.7039 | |
| MAexp100: | 1.7025 | |
| Price / MA7: | +0.28% | |
| Price / MA20: | +0.39% | |
| Price / MA50: | +0.56% | |
| Price / MA100: | +1.15% | |
| Price / MAexp7: | +0.02% | |
| Price / MAexp20: | +0.03% | |
| Price / MAexp50: | +0.06% | |
| Price / MAexp100: | +0.14% |
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.
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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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