GBP/SGD - 1H - Technical analysis published on 10/23/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bearish
Technical indicators
11%
78%
11%
My opinion
Bearish under 1.7120 SGD
My targets
1.7037 SGD (-0.0046)
1.6992 SGD (-0.0091)
My analysis
In the short term, we can see an acceleration in the bearish trend on GBP/SGD, which is a positive signal for sellers. As long as the price remains above 1.7120 SGD, a sale could be considered. The first bearish objective is located at 1.7037 SGD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 1.6992 SGD as an objective. Crossing it would then enable sellers to target 1.6935 SGD. If the price were to return above 1.7120 SGD, it would probably only trigger a small rebound in the short term to give a better base for restarting. Trading this rebound may be risky.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
6.4
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Additional analysis
Quotes
The GBP/SGD rating is 1.7083 SGD. On the day, this instrument lost -0.04% and was between 1.7081 SGD and 1.7147 SGD. This implies that the price is at +0.01% from its lowest and at -0.37% from its highest.1.7081
1.7147
1.7083
Here is a more detailed summary of the historical variations registered by GBP/SGD:
Near a new LOW record (1 year)
Type : Bearish
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
Technical analysis of GBP/SGD in 1H shows an overall bearish trend. The signals given by moving averages are 75.00% bearish. This bearish trend is reinforced 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 decline is high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.7022 | 1.7037 | 1.7078 | 1.7083 | 1.7097 | 1.7120 | 1.7137 |
| Change (%) | -0.36% | -0.27% | -0.03% | - | +0.08% | +0.22% | +0.32% |
| Change | -0.0061 | -0.0046 | -0.0005 | - | +0.0014 | +0.0037 | +0.0054 |
| Level | Intermediate | Minor | Intermediate | - | Minor | Intermediate | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6961 | 1.6999 | 1.7044 | 1.7082 | 1.7127 | 1.7165 | 1.7210 |
| Camarilla | 1.7066 | 1.7074 | 1.7081 | 1.7089 | 1.7097 | 1.7104 | 1.7112 |
| Woodie | 1.6965 | 1.7001 | 1.7048 | 1.7084 | 1.7131 | 1.7167 | 1.7214 |
| Fibonacci | 1.6999 | 1.7031 | 1.7050 | 1.7082 | 1.7114 | 1.7133 | 1.7165 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6849 | 1.6920 | 1.7011 | 1.7082 | 1.7173 | 1.7244 | 1.7335 |
| Camarilla | 1.7057 | 1.7071 | 1.7086 | 1.7101 | 1.7116 | 1.7131 | 1.7146 |
| Woodie | 1.6858 | 1.6925 | 1.7020 | 1.7087 | 1.7182 | 1.7249 | 1.7344 |
| Fibonacci | 1.6920 | 1.6982 | 1.7020 | 1.7082 | 1.7144 | 1.7182 | 1.7244 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.6731 | 1.6845 | 1.7019 | 1.7133 | 1.7307 | 1.7421 | 1.7595 |
| Camarilla | 1.7113 | 1.7139 | 1.7166 | 1.7192 | 1.7218 | 1.7245 | 1.7271 |
| Woodie | 1.6760 | 1.6860 | 1.7048 | 1.7148 | 1.7336 | 1.7436 | 1.7624 |
| Fibonacci | 1.6845 | 1.6955 | 1.7023 | 1.7133 | 1.7243 | 1.7311 | 1.7421 |
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): | 38.82 | |
| MACD (12,26,9): | -0.0003 | |
| Directional Movement: | -4.0342 | |
| AROON (14): | -92.8571 | |
| DEMA (21): | 1.7102 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.7121 | |
| Elder Ray (13): | -0.0018 | |
| Super Trend (3,10): | 1.7132 | |
| Zig ZAG (10): | 1.7084 | |
| VORTEX (21): | 0.9588 | |
| Stochastique (14,3,5): | 7.86 | |
| TEMA (21): | 1.7095 | |
| Williams %R (14): | -95.38 | |
| Chande Momentum Oscillator (20): | -0.0039 | |
| Repulse (5,40,3): | -0.0879 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0028 | |
| Courbe Coppock: | 0.32 |
| MA7: | 1.7093 | |
| MA20: | 1.7099 | |
| MA50: | 1.7112 | |
| MA100: | 1.7151 | |
| MAexp7: | 1.7095 | |
| MAexp20: | 1.7103 | |
| MAexp50: | 1.7100 | |
| MAexp100: | 1.7096 | |
| Price / MA7: | -0.06% | |
| Price / MA20: | -0.09% | |
| Price / MA50: | -0.17% | |
| Price / MA100: | -0.40% | |
| Price / MAexp7: | -0.07% | |
| Price / MAexp20: | -0.12% | |
| Price / MAexp50: | -0.10% | |
| Price / MAexp100: | -0.08% |
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.
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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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