GBP/USD - Daily - Technical analysis published on 12/20/2024 (GMT)
- 70
- 0
- Timeframe : Daily
- - Analysis generated on
- Status : IN PROGRESS...
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
11%
83%
6%
My opinion
Bearish under
My targets
()
()
My analysis
The bearish trend is currently very strong for GBP/USD. As long as the price remains below the resistance at , you could try to take advantage of the bearish rally. The first bearish objective is located at . The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at as an objective. Crossing it would then enable sellers to target . Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. 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 confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
8.4
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This analysis was given by gioviforex. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GBP/USD rating is 1.2505 USD. On the day, this instrument gained +0.06% and was traded between 1.2475 USD and 1.2518 USD over the period. The price is currently at +0.24% from its lowest and -0.10% from its highest.1.2475
1.2518
1.2505
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
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of GBP/USD indicates that the overall trend is strongly bearish. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 15 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
RSI indicator: bullish divergence
Type : Bullish
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
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
The Central Candlesticks scanner currently notes the presence of this pattern in Japanese candlesticks that could mark the end of the short-term trend currently underway:
Doji
Type : Neutral
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.2044 | 1.2343 | 1.2491 | 1.2505 | 1.2681 | 1.2824 | 1.3040 |
| Change (%) | -3.69% | -1.30% | -0.11% | - | +1.41% | +2.55% | +4.28% |
| Change | -0.0461 | -0.0162 | -0.0014 | - | +0.0176 | +0.0319 | +0.0535 |
| Level | Major | Major | Minor | - | Major | Intermediate | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2267 | 1.2381 | 1.2439 | 1.2553 | 1.2611 | 1.2725 | 1.2783 |
| Camarilla | 1.2450 | 1.2466 | 1.2481 | 1.2497 | 1.2513 | 1.2529 | 1.2544 |
| Woodie | 1.2239 | 1.2367 | 1.2411 | 1.2539 | 1.2583 | 1.2711 | 1.2755 |
| Fibonacci | 1.2381 | 1.2447 | 1.2487 | 1.2553 | 1.2619 | 1.2659 | 1.2725 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2361 | 1.2484 | 1.2552 | 1.2675 | 1.2743 | 1.2866 | 1.2934 |
| Camarilla | 1.2567 | 1.2584 | 1.2602 | 1.2619 | 1.2637 | 1.2654 | 1.2672 |
| Woodie | 1.2333 | 1.2470 | 1.2524 | 1.2661 | 1.2715 | 1.2852 | 1.2906 |
| Fibonacci | 1.2484 | 1.2557 | 1.2602 | 1.2675 | 1.2748 | 1.2793 | 1.2866 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.1903 | 1.2195 | 1.2464 | 1.2756 | 1.3025 | 1.3317 | 1.3586 |
| Camarilla | 1.2579 | 1.2630 | 1.2682 | 1.2733 | 1.2784 | 1.2836 | 1.2887 |
| Woodie | 1.1892 | 1.2189 | 1.2453 | 1.2750 | 1.3014 | 1.3311 | 1.3575 |
| Fibonacci | 1.2195 | 1.2409 | 1.2542 | 1.2756 | 1.2970 | 1.3103 | 1.3317 |
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): | 36.12 | |
| MACD (12,26,9): | -0.0058 | |
| Directional Movement: | -16.9995 | |
| AROON (14): | -71.4286 | |
| DEMA (21): | 1.2589 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.2772 | |
| Elder Ray (13): | -0.0140 | |
| Super Trend (3,10): | 1.2782 | |
| Zig ZAG (10): | 1.2511 | |
| VORTEX (21): | 0.9473 | |
| Stochastique (14,3,5): | 4.51 | |
| TEMA (21): | 1.2591 | |
| Williams %R (14): | -89.88 | |
| Chande Momentum Oscillator (20): | -0.0193 | |
| Repulse (5,40,3): | -1.2860 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0502 | |
| Courbe Coppock: | 0.86 |
| MA7: | 1.2610 | |
| MA20: | 1.2665 | |
| MA50: | 1.2792 | |
| MA100: | 1.2946 | |
| MAexp7: | 1.2595 | |
| MAexp20: | 1.2665 | |
| MAexp50: | 1.2773 | |
| MAexp100: | 1.2840 | |
| Price / MA7: | -0.83% | |
| Price / MA20: | -1.26% | |
| Price / MA50: | -2.24% | |
| Price / MA100: | -3.41% | |
| Price / MAexp7: | -0.71% | |
| Price / MAexp20: | -1.26% | |
| Price / MAexp50: | -2.10% | |
| Price / MAexp100: | -2.61% |
Quotes :
-
Real time data
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Forex
News
The last news published on GBP/USD at the time of the generation of this analysis was as follows:
-
GBP/USD Forecast December 16, 2024
-
GBP/USD Analysis - Pound Still Holds Its Own Against USD (December 13, 2024)
-
GBP/USD Forecast December 6, 2024
-
GBP/USD Forecast December 2, 2024
-
GBP/USD Forecast November 28, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
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