GBP/USD - 1H - Technical analysis published on 05/15/2024 (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
78%
0%
22%
My opinion
Bullish above 1.2633 USD
My targets
1.2713 USD (+0.0060)
1.2835 USD (+0.0182)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on GBP/USD as long as the price remains well above 1.2633 USD. The buyers' bullish objective is set at 1.2713 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1.2835 USD. If there is any crossing, the next objective would be the resistance located at 1.3705 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
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
8.6
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This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GBP/USD rating is 1.2653 USD. The price registered an increase of +0.55% on the session with the lowest point at 1.2583 USD and the highest point at 1.2673 USD. The deviation from the price is +0.56% for the low point and -0.16% for the high point.1.2583
1.2673
1.2653
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of GBP/USD indicates that the overall trend is strongly bullish. 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.
In fact, according to the parameters integrated into the Central Analyzer system, 14 technical indicators out of 18 analysed are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
White gravestone / inverted hammer
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.2556 | 1.2593 | 1.2633 | 1.2653 | 1.2713 | 1.2835 | 1.3705 |
| Change (%) | -0.77% | -0.47% | -0.16% | - | +0.47% | +1.44% | +8.31% |
| Change | -0.0097 | -0.0060 | -0.0020 | - | +0.0060 | +0.0182 | +0.1052 |
| Level | Major | Major | Intermediate | - | Minor | Major | Minor |
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 | 1.2447 | 1.2478 | 1.2531 | 1.2562 | 1.2615 | 1.2646 | 1.2699 |
| Camarilla | 1.2561 | 1.2569 | 1.2576 | 1.2584 | 1.2592 | 1.2599 | 1.2607 |
| Woodie | 1.2458 | 1.2484 | 1.2542 | 1.2568 | 1.2626 | 1.2652 | 1.2710 |
| Fibonacci | 1.2478 | 1.2510 | 1.2530 | 1.2562 | 1.2594 | 1.2614 | 1.2646 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2301 | 1.2374 | 1.2449 | 1.2522 | 1.2597 | 1.2670 | 1.2745 |
| Camarilla | 1.2484 | 1.2498 | 1.2511 | 1.2525 | 1.2539 | 1.2552 | 1.2566 |
| Woodie | 1.2303 | 1.2375 | 1.2451 | 1.2523 | 1.2599 | 1.2671 | 1.2747 |
| Fibonacci | 1.2374 | 1.2430 | 1.2465 | 1.2522 | 1.2578 | 1.2613 | 1.2670 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.1879 | 1.2089 | 1.2289 | 1.2499 | 1.2699 | 1.2909 | 1.3109 |
| Camarilla | 1.2376 | 1.2414 | 1.2451 | 1.2489 | 1.2527 | 1.2564 | 1.2602 |
| Woodie | 1.1874 | 1.2087 | 1.2284 | 1.2497 | 1.2694 | 1.2907 | 1.3104 |
| Fibonacci | 1.2089 | 1.2246 | 1.2342 | 1.2499 | 1.2656 | 1.2752 | 1.2909 |
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): | 69.29 | |
| MACD (12,26,9): | 0.0018 | |
| Directional Movement: | 28.8548 | |
| AROON (14): | 64.2857 | |
| DEMA (21): | 1.2633 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2604 | |
| Elder Ray (13): | 0.0039 | |
| Super Trend (3,10): | 1.2596 | |
| Zig ZAG (10): | 1.2657 | |
| VORTEX (21): | 1.1969 | |
| Stochastique (14,3,5): | 65.22 | |
| TEMA (21): | 1.2640 | |
| Williams %R (14): | -20.69 | |
| Chande Momentum Oscillator (20): | 0.0058 | |
| Repulse (5,40,3): | 0.1303 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0157 | |
| Courbe Coppock: | 0.64 |
| MA7: | 1.2549 | |
| MA20: | 1.2507 | |
| MA50: | 1.2591 | |
| MA100: | 1.2633 | |
| MAexp7: | 1.2633 | |
| MAexp20: | 1.2611 | |
| MAexp50: | 1.2585 | |
| MAexp100: | 1.2563 | |
| Price / MA7: | +0.83% | |
| Price / MA20: | +1.17% | |
| Price / MA50: | +0.49% | |
| Price / MA100: | +0.16% | |
| Price / MAexp7: | +0.16% | |
| Price / MAexp20: | +0.33% | |
| Price / MAexp50: | +0.54% | |
| Price / MAexp100: | +0.72% |
Quotes :
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Real time data
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Forex
News
The latest news and videos published on GBP/USD at the time of the analysis were as follows:
-
GBP/USD Forecast May 16, 2024
-
Weekly Technical Outlook: 08/05/2024 - USDJPY, GBPUSD, USDCAD
-
GBP/USD Forecast May 3, 2024
-
GBP/USD Forecast May 2, 2024
-
GBP/USD April 24 Forecast
This member declared not having a position on this financial instrument or a related financial instrument.
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