GBP/USD - 1H - Technical analysis published on 10/22/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Strongly bearish
Technical indicators
33%
33%
33%
My opinion
Bearish under 1.3020 USD
My targets
1.2975 USD (-0.0017)
1.2833 USD (-0.0159)
My analysis
The bearish basic trend is very strong on GBP/USD but the short term shows some signs of running out of steam. However, a sale could be considered as long as the price remains below 1.3020 USD. Crossing the first support at 1.2975 USD would be a sign of a further potential price plummet. Sellers would then use the next support located at 1.2833 USD as an objective. Crossing it would then enable sellers to target 1.2682 USD. Caution, a return to above the resistance located at 1.3020 USD would be a sign of a possible consolidation phase of the short-term basic trend. 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, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
5
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This analysis was given by shadybhai. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GBP/USD rating is 1.2992 USD. The price registered an increase of +0.08% on the session and was between 1.2979 USD and 1.3016 USD. This implies that the price is at +0.10% from its lowest and at -0.18% from its highest.1.2979
1.3016
1.2992
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
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
Near a new HIGH record (1st january)
Type : Bullish
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. 82.14% of the signals given by moving averages are bearish. This strongly bearish trend is showing signs of slowing down given the slightly bearish signals given by short-term moving averages. An assessment of moving averages reveals a bearish signal that could impact this trend:
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
In fact, of the 18 technical indicators analysed by Central Analyzer, 6 are bullish, 6 are neutral and 6 are bearish. Central Indicators, the scanner specialised in technical indicators, has identified these signals:
RSI indicator is back under 50
Type : Bearish
Timeframe : 1 hour
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.2682 | 1.2833 | 1.2975 | 1.2992 | 1.3020 | 1.3038 | 1.3071 |
| Change (%) | -2.39% | -1.22% | -0.13% | - | +0.22% | +0.35% | +0.61% |
| Change | -0.0310 | -0.0159 | -0.0017 | - | +0.0028 | +0.0046 | +0.0079 |
| Level | Major | Major | Intermediate | - | Intermediate | Intermediate | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2869 | 1.2922 | 1.2952 | 1.3005 | 1.3035 | 1.3088 | 1.3118 |
| Camarilla | 1.2959 | 1.2967 | 1.2974 | 1.2982 | 1.2990 | 1.2997 | 1.3005 |
| Woodie | 1.2858 | 1.2916 | 1.2941 | 1.2999 | 1.3024 | 1.3082 | 1.3107 |
| Fibonacci | 1.2922 | 1.2954 | 1.2973 | 1.3005 | 1.3037 | 1.3056 | 1.3088 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2853 | 1.2914 | 1.2982 | 1.3043 | 1.3111 | 1.3172 | 1.3240 |
| Camarilla | 1.3016 | 1.3027 | 1.3039 | 1.3051 | 1.3063 | 1.3075 | 1.3087 |
| Woodie | 1.2858 | 1.2916 | 1.2987 | 1.3045 | 1.3116 | 1.3174 | 1.3245 |
| Fibonacci | 1.2914 | 1.2963 | 1.2993 | 1.3043 | 1.3092 | 1.3122 | 1.3172 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2676 | 1.2839 | 1.3108 | 1.3271 | 1.3540 | 1.3703 | 1.3972 |
| Camarilla | 1.3258 | 1.3298 | 1.3337 | 1.3377 | 1.3417 | 1.3456 | 1.3496 |
| Woodie | 1.2729 | 1.2866 | 1.3161 | 1.3298 | 1.3593 | 1.3730 | 1.4025 |
| Fibonacci | 1.2839 | 1.3004 | 1.3106 | 1.3271 | 1.3436 | 1.3538 | 1.3703 |
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): | 44.93 | |
| MACD (12,26,9): | -0.0005 | |
| Directional Movement: | -4.9521 | |
| AROON (14): | 64.2857 | |
| DEMA (21): | 1.2990 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3016 | |
| Elder Ray (13): | 0.0002 | |
| Super Trend (3,10): | 1.3014 | |
| Zig ZAG (10): | 1.2993 | |
| VORTEX (21): | 0.8711 | |
| Stochastique (14,3,5): | 67.48 | |
| TEMA (21): | 1.2992 | |
| Williams %R (14): | -58.54 | |
| Chande Momentum Oscillator (20): | 0.0007 | |
| Repulse (5,40,3): | -0.1047 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0107 | |
| Courbe Coppock: | 0.10 |
| MA7: | 1.3023 | |
| MA20: | 1.3140 | |
| MA50: | 1.3138 | |
| MA100: | 1.2963 | |
| MAexp7: | 1.2998 | |
| MAexp20: | 1.2998 | |
| MAexp50: | 1.3010 | |
| MAexp100: | 1.3020 | |
| Price / MA7: | -0.24% | |
| Price / MA20: | -1.13% | |
| Price / MA50: | -1.11% | |
| Price / MA100: | +0.22% | |
| Price / MAexp7: | -0.05% | |
| Price / MAexp20: | -0.05% | |
| Price / MAexp50: | -0.14% | |
| Price / MAexp100: | -0.22% |
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:
-
GBP/USD Forecast October 22, 2024
-
GBP/USD Forecast October 17, 2024
-
GBP/USD Forecast October 11, 2024
-
GBP/USD Forecast October 10, 2024
-
GBP/USD Forecast September 27, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
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