GBP/USD - Daily - Technical analysis published on 10/31/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bearish
Technical indicators
17%
61%
22%
My opinion
Bearish under 1.3038 USD
My targets
1.2833 USD (-0.0057)
1.2681 USD (-0.0209)
My analysis
In the short term, we can see an acceleration in the bearish trend on GBP/USD, which is a positive signal for sellers. As long as the price remains above 1.3038 USD, a sale could be considered. The first bearish objective is located at 1.2833 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 1.2681 USD as an objective. Crossing it would then enable sellers to target 1.2561 USD. If the price were to return above 1.3038 USD, it would probably only trigger a small rebound in the short term to give a better base for restarting. Trading this rebound may be risky.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
5
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This analysis was given by Jeafx9667. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
GBP/USD rating 1.2890 USD. The price registered a decrease of -0.53% on the session with the lowest point at 1.2844 USD and the highest point at 1.3000 USD. The deviation from the price is +0.36% for the low point and -0.85% for the high point.1.2844
1.3000
1.2890
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
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of GBP/USD in Daily shows an overall bearish trend. 67.86% of the signals given by moving averages are bearish. The overall trend is reinforced by the strong bearish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, 11 technical indicators on 18 studied are currently bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 1
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : Daily
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal support
Type : Bullish
Timeframe : Daily
Support of channel is broken
Type : Bearish
Timeframe : Daily
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.2561 | 1.2681 | 1.2833 | 1.2890 | 1.3038 | 1.3128 | 1.3255 |
| Change (%) | -2.55% | -1.62% | -0.44% | - | +1.15% | +1.85% | +2.83% |
| Change | -0.0329 | -0.0209 | -0.0057 | - | +0.0148 | +0.0238 | +0.0365 |
| Level | Minor | Major | Major | - | Major | Major | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2810 | 1.2873 | 1.2916 | 1.2979 | 1.3022 | 1.3085 | 1.3128 |
| Camarilla | 1.2929 | 1.2939 | 1.2948 | 1.2958 | 1.2968 | 1.2977 | 1.2987 |
| Woodie | 1.2799 | 1.2868 | 1.2905 | 1.2974 | 1.3011 | 1.3080 | 1.3117 |
| Fibonacci | 1.2873 | 1.2914 | 1.2939 | 1.2979 | 1.3020 | 1.3045 | 1.3085 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2741 | 1.2824 | 1.2892 | 1.2975 | 1.3043 | 1.3126 | 1.3194 |
| Camarilla | 1.2919 | 1.2932 | 1.2946 | 1.2960 | 1.2974 | 1.2988 | 1.3002 |
| Woodie | 1.2734 | 1.2820 | 1.2885 | 1.2971 | 1.3036 | 1.3122 | 1.3187 |
| Fibonacci | 1.2824 | 1.2882 | 1.2917 | 1.2975 | 1.3033 | 1.3068 | 1.3126 |
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 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): | 34.94 | |
| MACD (12,26,9): | -0.0057 | |
| Directional Movement: | -14.5151 | |
| AROON (14): | -85.7143 | |
| DEMA (21): | 1.2952 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3043 | |
| Elder Ray (13): | -0.0066 | |
| Super Trend (3,10): | 1.3171 | |
| Zig ZAG (10): | 1.2886 | |
| VORTEX (21): | 0.7543 | |
| Stochastique (14,3,5): | 31.77 | |
| TEMA (21): | 1.2901 | |
| Williams %R (14): | -83.78 | |
| Chande Momentum Oscillator (20): | -0.0179 | |
| Repulse (5,40,3): | -1.0107 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0587 | |
| Courbe Coppock: | 1.89 |
| MA7: | 1.2954 | |
| MA20: | 1.3016 | |
| MA50: | 1.3134 | |
| MA100: | 1.2976 | |
| MAexp7: | 1.2957 | |
| MAexp20: | 1.3021 | |
| MAexp50: | 1.3052 | |
| MAexp100: | 1.2984 | |
| Price / MA7: | -0.49% | |
| Price / MA20: | -0.97% | |
| Price / MA50: | -1.86% | |
| Price / MA100: | -0.66% | |
| Price / MAexp7: | -0.52% | |
| Price / MAexp20: | -1.01% | |
| Price / MAexp50: | -1.25% | |
| Price / MAexp100: | -0.73% |
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 October 31, 2024
-
Going long GBP/USD as it recovers from recent weakness
-
GBP/USD Forecast October 24, 2024
-
GBP/USD Forecast October 22, 2024
-
GBP/USD Forecast October 17, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
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