GBP/USD - Daily - Technical analysis published on 08/04/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Slightly bullish
Technical indicators
22%
56%
22%
My opinion
Bearish under 1.2818 USD
My targets
1.2622 USD (-0.0109)
1.2418 USD (-0.0313)
My analysis
The strong short-term decline in GBP/USD calls into question the currently slightly bullish basic trend. A trend reversal is likely. As long as the price remains below the resistance located at 1.2818 USD, one could consider taking advantage of the short-term movement. The first bearish objective is located at 1.2622 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 1.2418 USD as an objective. Crossing it would then enable sellers to target 1.2037 USD. Be careful, a return to above 1.2818 USD could jeopardize the reversal.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
1.4
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This analysis was given by ronaldkz. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GBP/USD price is 1.2731 USD. On the day, this instrument gained +0.13% and was traded between 1.2710 USD and 1.2732 USD over the period. The price is currently at +0.17% from its lowest and -0.01% from its highest.1.2710
1.2732
1.2731
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 (1 year)
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 Daily of this GBP/USD chart shows a slightly bullish trend. 57.14% of the signals given by moving averages are bullish. Caution: the strong bearish signals currently given by short-term moving averages indicate that a trend reversal may be taking place. The Central Indicators scanner detects a bearish signal on moving averages that could impact this trend:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : Daily
In fact, of the 18 technical indicators analysed by Central Analyzer, 4 are bullish, 4 are neutral and 10 are bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
MACD indicator is back under 0
Type : Bearish
Timeframe : Daily
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal support
Type : Bullish
Timeframe : Daily
Support of channel is broken
Type : Bearish
Timeframe : Daily
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.2037 | 1.2418 | 1.2622 | 1.2731 | 1.2818 | 1.2994 | 1.3402 |
| Change (%) | -5.45% | -2.46% | -0.86% | - | +0.68% | +2.07% | +5.27% |
| Change | -0.0694 | -0.0313 | -0.0109 | - | +0.0087 | +0.0263 | +0.0671 |
| Level | Major | Major | Major | - | Intermediate | 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 | 1.2541 | 1.2581 | 1.2648 | 1.2688 | 1.2755 | 1.2795 | 1.2862 |
| Camarilla | 1.2686 | 1.2695 | 1.2705 | 1.2715 | 1.2725 | 1.2735 | 1.2744 |
| Woodie | 1.2555 | 1.2588 | 1.2662 | 1.2695 | 1.2769 | 1.2802 | 1.2876 |
| Fibonacci | 1.2581 | 1.2622 | 1.2647 | 1.2688 | 1.2729 | 1.2754 | 1.2795 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2512 | 1.2637 | 1.2745 | 1.2870 | 1.2978 | 1.3103 | 1.3211 |
| Camarilla | 1.2788 | 1.2809 | 1.2831 | 1.2852 | 1.2873 | 1.2895 | 1.2916 |
| Woodie | 1.2503 | 1.2633 | 1.2736 | 1.2866 | 1.2969 | 1.3099 | 1.3202 |
| Fibonacci | 1.2637 | 1.2726 | 1.2781 | 1.2870 | 1.2959 | 1.3014 | 1.3103 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2129 | 1.2393 | 1.2613 | 1.2877 | 1.3097 | 1.3361 | 1.3581 |
| Camarilla | 1.2699 | 1.2743 | 1.2788 | 1.2832 | 1.2876 | 1.2921 | 1.2965 |
| Woodie | 1.2106 | 1.2382 | 1.2590 | 1.2866 | 1.3074 | 1.3350 | 1.3558 |
| Fibonacci | 1.2393 | 1.2578 | 1.2692 | 1.2877 | 1.3062 | 1.3176 | 1.3361 |
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): | 43.69 | |
| MACD (12,26,9): | -0.0005 | |
| Directional Movement: | -14.8258 | |
| AROON (14): | -85.7142 | |
| DEMA (21): | 1.2834 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2846 | |
| Elder Ray (13): | -0.0089 | |
| Super Trend (3,10): | 1.2990 | |
| Zig ZAG (10): | 1.2731 | |
| VORTEX (21): | 1.0166 | |
| Stochastique (14,3,5): | 16.21 | |
| TEMA (21): | 1.2771 | |
| Williams %R (14): | -78.42 | |
| Chande Momentum Oscillator (20): | -0.0207 | |
| Repulse (5,40,3): | 0.0123 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0382 | |
| Courbe Coppock: | 3.19 |
| MA7: | 1.2777 | |
| MA20: | 1.2893 | |
| MA50: | 1.2735 | |
| MA100: | 1.2585 | |
| MAexp7: | 1.2774 | |
| MAexp20: | 1.2819 | |
| MAexp50: | 1.2743 | |
| MAexp100: | 1.2586 | |
| Price / MA7: | -0.36% | |
| Price / MA20: | -1.26% | |
| Price / MA50: | -0.03% | |
| Price / MA100: | +1.16% | |
| Price / MAexp7: | -0.34% | |
| Price / MAexp20: | -0.69% | |
| Price / MAexp50: | -0.09% | |
| Price / MAexp100: | +1.15% |
Quotes :
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Real time data
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Forex
News
The last news published on GBP/USD at the time of the generation of this analysis was as follows:
-
GBP/USD Technical Analysis for August 03, 2023 by FXEmpire
-
GBP/USD Technical Analysis for August 02, 2023 by FXEmpire
-
Technical Analysis: 01/08/2023 - GBPUSD consolidates as pullback fades
-
GBP/USD Forecast August 1, 2023
-
GBP/USD Technical Analysis for July 31, 2023 by FXEmpire
This member declared not having a position on this financial instrument or a related financial instrument.
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