GBP/USD - 1H - Technical analysis published on 07/12/2024 (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
83%
0%
17%
My opinion
Bullish above 1.2882 USD
My targets
1.3084 USD (+0.0131)
1.3128 USD (+0.0175)
My analysis
GBP/USD is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 1.2882 USD. The next resistance located at 1.3084 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 1.3128 USD. After this resistance, buyers could then target 1.3705 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
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
8.8
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This analysis was given by Barts_XV. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GBP/USD price is 1.2953 USD. On the day, this instrument gained +0.22% with the lowest point at 1.2902 USD and the highest point at 1.2966 USD. The deviation from the price is +0.40% for the low point and -0.10% for the high point.1.2902
1.2966
1.2953
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
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of GBP/USD in 1H shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from 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 increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near support of channel
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 | 1.2778 | 1.2831 | 1.2949 | 1.2953 | 1.3128 | 1.3705 | 1.4263 |
| Change (%) | -1.35% | -0.94% | -0.03% | - | +1.35% | +5.81% | +10.11% |
| Change | -0.0175 | -0.0122 | -0.0004 | - | +0.0175 | +0.0752 | +0.1310 |
| Level | Major | Major | Intermediate | - | Intermediate | Minor | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2766 | 1.2807 | 1.2866 | 1.2907 | 1.2966 | 1.3007 | 1.3066 |
| Camarilla | 1.2897 | 1.2906 | 1.2915 | 1.2924 | 1.2933 | 1.2942 | 1.2952 |
| Woodie | 1.2774 | 1.2812 | 1.2874 | 1.2912 | 1.2974 | 1.3012 | 1.3074 |
| Fibonacci | 1.2807 | 1.2846 | 1.2869 | 1.2907 | 1.2946 | 1.2969 | 1.3007 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2478 | 1.2547 | 1.2680 | 1.2749 | 1.2882 | 1.2951 | 1.3084 |
| Camarilla | 1.2759 | 1.2777 | 1.2796 | 1.2814 | 1.2833 | 1.2851 | 1.2870 |
| Woodie | 1.2511 | 1.2563 | 1.2713 | 1.2765 | 1.2915 | 1.2967 | 1.3117 |
| Fibonacci | 1.2547 | 1.2624 | 1.2672 | 1.2749 | 1.2826 | 1.2874 | 1.2951 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2302 | 1.2457 | 1.2550 | 1.2705 | 1.2798 | 1.2953 | 1.3046 |
| Camarilla | 1.2575 | 1.2598 | 1.2620 | 1.2643 | 1.2666 | 1.2689 | 1.2711 |
| Woodie | 1.2271 | 1.2442 | 1.2519 | 1.2690 | 1.2767 | 1.2938 | 1.3015 |
| Fibonacci | 1.2457 | 1.2552 | 1.2610 | 1.2705 | 1.2800 | 1.2858 | 1.2953 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 76.06 | |
| MACD (12,26,9): | 0.0020 | |
| Directional Movement: | 29.5614 | |
| AROON (14): | 64.2857 | |
| DEMA (21): | 1.2951 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2910 | |
| Elder Ray (13): | 0.0025 | |
| Super Trend (3,10): | 1.2925 | |
| Zig ZAG (10): | 1.2963 | |
| VORTEX (21): | 1.2061 | |
| Stochastique (14,3,5): | 96.35 | |
| TEMA (21): | 1.2955 | |
| Williams %R (14): | 0.00 | |
| Chande Momentum Oscillator (20): | 0.0056 | |
| Repulse (5,40,3): | 0.1790 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0180 | |
| Courbe Coppock: | 0.53 |
| MA7: | 1.2845 | |
| MA20: | 1.2735 | |
| MA50: | 1.2707 | |
| MA100: | 1.2660 | |
| MAexp7: | 1.2948 | |
| MAexp20: | 1.2926 | |
| MAexp50: | 1.2892 | |
| MAexp100: | 1.2855 | |
| Price / MA7: | +0.84% | |
| Price / MA20: | +1.71% | |
| Price / MA50: | +1.94% | |
| Price / MA100: | +2.31% | |
| Price / MAexp7: | +0.03% | |
| Price / MAexp20: | +0.20% | |
| Price / MAexp50: | +0.47% | |
| Price / MAexp100: | +0.75% |
Quotes :
-
Real time data
-
Forex
News
The last news published on GBP/USD at the time of the generation of this analysis was as follows:
-
GBP/USD Forecast July 10, 2024
-
Weekly Technical Outlook: 08/07/2024 - USDJPY, GBPUSD, NZDUSD
-
GBP/USD Forecast July 3, 2024
-
GBP/USD Forecast June 19, 2024
-
GBP/USD Forecast June 17, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
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