GBP/USD - 1H - Technical analysis published on 04/29/2024 (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 bullish
Underlying:
Strongly bullish
Technical indicators
61%
0%
39%
My opinion
Bullish above 1.2483 USD
My targets
1.2548 USD (+0.0018)
1.2675 USD (+0.0145)
My analysis
The bullish trend is currently very strong on GBP/USD. As long as the price remains above the support at 1.2483 USD, you could try to benefit from the boom. The first bullish objective is located at 1.2548 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 1.2675 USD as an objective. Crossing it would then enable buyers to target 1.2810 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, technical indicators confirm the bullish opinion of this analysis. 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
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Additional analysis
Quotes
The GBP/USD rating is 1.2530 USD. On the day, this instrument gained +0.30% and was between 1.2479 USD and 1.2549 USD. This implies that the price is at +0.41% from its lowest and at -0.15% from its highest.1.2479
1.2549
1.2530
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
Here is a more detailed summary of the historical variations registered by GBP/USD:
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 1H of this GBP/USD chart shows a strongly bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
The technical indicators are bullish. There is still some doubt about the price increase.
The Central Indicators scanner found no further results concerning independent technical indicators.
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
There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.2315 | 1.2418 | 1.2483 | 1.2530 | 1.2548 | 1.2675 | 1.2810 |
| Change (%) | -1.72% | -0.89% | -0.38% | - | +0.14% | +1.16% | +2.23% |
| Change | -0.0215 | -0.0112 | -0.0047 | - | +0.0018 | +0.0145 | +0.0280 |
| Level | Major | Major | Major | - | Intermediate | Intermediate | 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 | 1.2356 | 1.2402 | 1.2448 | 1.2494 | 1.2540 | 1.2586 | 1.2632 |
| Camarilla | 1.2468 | 1.2476 | 1.2485 | 1.2493 | 1.2501 | 1.2510 | 1.2518 |
| Woodie | 1.2355 | 1.2402 | 1.2447 | 1.2494 | 1.2539 | 1.2586 | 1.2631 |
| Fibonacci | 1.2402 | 1.2438 | 1.2459 | 1.2494 | 1.2530 | 1.2551 | 1.2586 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2106 | 1.2202 | 1.2348 | 1.2444 | 1.2590 | 1.2686 | 1.2832 |
| Camarilla | 1.2427 | 1.2449 | 1.2471 | 1.2493 | 1.2515 | 1.2537 | 1.2560 |
| Woodie | 1.2130 | 1.2215 | 1.2372 | 1.2457 | 1.2614 | 1.2699 | 1.2856 |
| Fibonacci | 1.2202 | 1.2295 | 1.2352 | 1.2444 | 1.2537 | 1.2594 | 1.2686 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2176 | 1.2376 | 1.2495 | 1.2695 | 1.2814 | 1.3014 | 1.3133 |
| Camarilla | 1.2527 | 1.2557 | 1.2586 | 1.2615 | 1.2644 | 1.2674 | 1.2703 |
| Woodie | 1.2137 | 1.2356 | 1.2456 | 1.2675 | 1.2775 | 1.2994 | 1.3094 |
| Fibonacci | 1.2376 | 1.2498 | 1.2573 | 1.2695 | 1.2817 | 1.2892 | 1.3014 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 57.64 | |
| MACD (12,26,9): | 0.0008 | |
| Directional Movement: | 6.2429 | |
| AROON (14): | 50.0000 | |
| DEMA (21): | 1.2528 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2496 | |
| Elder Ray (13): | 0.0008 | |
| Super Trend (3,10): | 1.2496 | |
| Zig ZAG (10): | 1.2532 | |
| VORTEX (21): | 1.2226 | |
| Stochastique (14,3,5): | 68.57 | |
| TEMA (21): | 1.2532 | |
| Williams %R (14): | -25.71 | |
| Chande Momentum Oscillator (20): | 0.0030 | |
| Repulse (5,40,3): | 0.0852 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0077 | |
| Courbe Coppock: | 0.55 |
| MA7: | 1.2452 | |
| MA20: | 1.2515 | |
| MA50: | 1.2621 | |
| MA100: | 1.2646 | |
| MAexp7: | 1.2527 | |
| MAexp20: | 1.2518 | |
| MAexp50: | 1.2503 | |
| MAexp100: | 1.2481 | |
| Price / MA7: | +0.63% | |
| Price / MA20: | +0.12% | |
| Price / MA50: | -0.72% | |
| Price / MA100: | -0.92% | |
| Price / MAexp7: | +0.02% | |
| Price / MAexp20: | +0.10% | |
| Price / MAexp50: | +0.22% | |
| Price / MAexp100: | +0.39% |
Quotes :
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Real time data
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Forex
News
Don't forget to follow the news on GBP/USD. At the time of publication of this analysis, the latest news was as follows:
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GBP/USD April 24 Forecast
-
GBP/USD Forecast April 22, 2024
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Technical Analysis: 03/04/2024 - GBPUSD battles with 200-day SMA
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Technical Analysis: 26/03/2024 - GBPUSD bounces off 200-day SMA
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Trade of the week: short GBP/USD
This member declared not having a position on this financial instrument or a related financial instrument.
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