GBP/USD - 1H - Technical analysis published on 05/17/2024 (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
89%
0%
11%
My opinion
Bullish above 1.2680 USD
My targets
1.2745 USD (+0.0042)
1.2835 USD (+0.0132)
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 1.2680 USD. The buyers' bullish objective is set at 1.2745 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.
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
8.6
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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 1.2703 USD. On the day, this instrument gained +0.25% with the lowest point at 1.2645 USD and the highest point at 1.2709 USD. The deviation from the price is +0.46% for the low point and -0.05% for the high point.1.2645
1.2709
1.2703
Here is a more detailed summary of the historical variations registered by GBP/USD:
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
A technical analysis in 1H of this GBP/USD chart shows a strongly bullish trend. 89.29% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
An assessment of technical indicators shows a strong bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact 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 | 1.2556 | 1.2633 | 1.2680 | 1.2703 | 1.2713 | 1.2835 | 1.3705 |
| Change (%) | -1.16% | -0.55% | -0.18% | - | +0.08% | +1.04% | +7.89% |
| Change | -0.0147 | -0.0070 | -0.0023 | - | +0.0010 | +0.0132 | +0.1002 |
| Level | Major | Intermediate | Intermediate | - | Intermediate | 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 | 1.2584 | 1.2614 | 1.2642 | 1.2672 | 1.2700 | 1.2730 | 1.2758 |
| Camarilla | 1.2655 | 1.2660 | 1.2666 | 1.2671 | 1.2676 | 1.2682 | 1.2687 |
| Woodie | 1.2584 | 1.2614 | 1.2642 | 1.2672 | 1.2700 | 1.2730 | 1.2758 |
| Fibonacci | 1.2614 | 1.2636 | 1.2650 | 1.2672 | 1.2694 | 1.2708 | 1.2730 |
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 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): | 69.94 | |
| MACD (12,26,9): | 0.0007 | |
| Directional Movement: | 23.0344 | |
| AROON (14): | 57.1429 | |
| DEMA (21): | 1.2678 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2649 | |
| Elder Ray (13): | 0.0029 | |
| Super Trend (3,10): | 1.2667 | |
| Zig ZAG (10): | 1.2701 | |
| VORTEX (21): | 1.1455 | |
| Stochastique (14,3,5): | 92.03 | |
| TEMA (21): | 1.2681 | |
| Williams %R (14): | -12.50 | |
| Chande Momentum Oscillator (20): | 0.0047 | |
| Repulse (5,40,3): | 0.1748 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0005 | |
| Courbe Coppock: | 0.26 |
| MA7: | 1.2608 | |
| MA20: | 1.2537 | |
| MA50: | 1.2586 | |
| MA100: | 1.2632 | |
| MAexp7: | 1.2684 | |
| MAexp20: | 1.2671 | |
| MAexp50: | 1.2659 | |
| MAexp100: | 1.2632 | |
| Price / MA7: | +0.75% | |
| Price / MA20: | +1.32% | |
| Price / MA50: | +0.93% | |
| Price / MA100: | +0.56% | |
| Price / MAexp7: | +0.15% | |
| Price / MAexp20: | +0.25% | |
| Price / MAexp50: | +0.35% | |
| Price / MAexp100: | +0.56% |
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 20, 2024
-
GBP/USD Forecast May 17, 2024
-
GBP/USD Forecast May 16, 2024
-
Weekly Technical Outlook: 08/05/2024 - USDJPY, GBPUSD, USDCAD
-
GBP/USD Forecast May 3, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
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