GBP/USD - 1H - Technical analysis published on 08/01/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
72%
11%
My opinion
Bearish under 1.2806 USD
My targets
1.2737 USD (-0.0031)
1.2623 USD (-0.0145)
My analysis
GBP/USD is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 1.2806 USD. The next support located at 1.2737 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 1.2623 USD. Below this support, sellers could then target 1.2536 USD. With the current pattern, you will need to monitor for possible bearish 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 bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
7.9
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Additional analysis
Quotes
The GBP/USD rating is 1.2768 USD. The price registered a decrease of -0.66% on the session and was traded between 1.2755 USD and 1.2861 USD over the period. The price is currently at +0.10% from its lowest and -0.72% from its highest.1.2755
1.2861
1.2768
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 LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of GBP/USD in 1H shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
An assessment of technical indicators shows a strong bearish signal.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Previous candle closed under Bollinger bands
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
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 | 1.2343 | 1.2536 | 1.2623 | 1.2768 | 1.2806 | 1.2831 | 1.2849 |
| Change (%) | -3.33% | -1.82% | -1.14% | - | +0.30% | +0.49% | +0.63% |
| Change | -0.0425 | -0.0232 | -0.0145 | - | +0.0038 | +0.0063 | +0.0081 |
| Level | Major | Minor | 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 | 1.2785 | 1.2803 | 1.2828 | 1.2846 | 1.2871 | 1.2889 | 1.2914 |
| Camarilla | 1.2841 | 1.2845 | 1.2849 | 1.2853 | 1.2857 | 1.2861 | 1.2865 |
| Woodie | 1.2789 | 1.2805 | 1.2832 | 1.2848 | 1.2875 | 1.2891 | 1.2918 |
| Fibonacci | 1.2803 | 1.2819 | 1.2830 | 1.2846 | 1.2862 | 1.2873 | 1.2889 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2737 | 1.2793 | 1.2830 | 1.2886 | 1.2923 | 1.2979 | 1.3016 |
| Camarilla | 1.2841 | 1.2850 | 1.2859 | 1.2867 | 1.2876 | 1.2884 | 1.2893 |
| Woodie | 1.2728 | 1.2788 | 1.2821 | 1.2881 | 1.2914 | 1.2974 | 1.3007 |
| Fibonacci | 1.2793 | 1.2829 | 1.2851 | 1.2886 | 1.2922 | 1.2944 | 1.2979 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2202 | 1.2408 | 1.2631 | 1.2837 | 1.3060 | 1.3266 | 1.3489 |
| Camarilla | 1.2735 | 1.2774 | 1.2814 | 1.2853 | 1.2892 | 1.2932 | 1.2971 |
| Woodie | 1.2210 | 1.2412 | 1.2639 | 1.2841 | 1.3068 | 1.3270 | 1.3497 |
| Fibonacci | 1.2408 | 1.2572 | 1.2674 | 1.2837 | 1.3001 | 1.3103 | 1.3266 |
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): | 28.67 | |
| MACD (12,26,9): | -0.0017 | |
| Directional Movement: | -28.1922 | |
| AROON (14): | -92.8571 | |
| DEMA (21): | 1.2805 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2847 | |
| Elder Ray (13): | -0.0041 | |
| Super Trend (3,10): | 1.2816 | |
| Zig ZAG (10): | 1.2775 | |
| VORTEX (21): | 0.7522 | |
| Stochastique (14,3,5): | 6.69 | |
| TEMA (21): | 1.2789 | |
| Williams %R (14): | -82.41 | |
| Chande Momentum Oscillator (20): | -0.0083 | |
| Repulse (5,40,3): | -0.2265 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0061 | |
| Courbe Coppock: | 0.80 |
| MA7: | 1.2849 | |
| MA20: | 1.2889 | |
| MA50: | 1.2787 | |
| MA100: | 1.2683 | |
| MAexp7: | 1.2793 | |
| MAexp20: | 1.2822 | |
| MAexp50: | 1.2836 | |
| MAexp100: | 1.2849 | |
| Price / MA7: | -0.63% | |
| Price / MA20: | -0.94% | |
| Price / MA50: | -0.15% | |
| Price / MA100: | +0.67% | |
| Price / MAexp7: | -0.20% | |
| Price / MAexp20: | -0.42% | |
| Price / MAexp50: | -0.53% | |
| Price / MAexp100: | -0.63% |
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:
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GBP/USD Forecast August 1, 2024
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GBP/USD Forecast July 30, 2024
-
GBP/USD Forecast July 29, 2024
-
GBP/USD Forecast July 10, 2024
-
Weekly Technical Outlook: 08/07/2024 - USDJPY, GBPUSD, NZDUSD
This member declared not having a position on this financial instrument or a related financial instrument.
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