GBP/CNH - Daily - Technical analysis published on 02/12/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Bearish
Technical indicators
11%
56%
33%
My opinion
Bearish under 8.3797 CNH
My targets
7.9885 CNH (-0.2414)
7.8681 CNH (-0.3618)
My analysis
There is a bearish trend on GBP/CNH both at the basic level and in the short term. A sale could be considered, so long as the price remains below 8.3797 CNH. Each support break is a strong signal that the current trend will continue. The first bearish objective would be 7.9885 CNH. Then the price could move towards 7.8681 CNH. Then 7.7014 CNH by extension. Be careful, a return to above the resistance 8.3797 CNH would be a sign of a weakening of the trend and a possible rebound phase could then occur. In this case, you could keep away while waiting for a signal that the basic trend will resume. Trading against the trend is perhaps more 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
5
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GBP/CNH price is 8.2299 CNH. On the day, this instrument gained +0.00% with the lowest point at 8.2218 CNH and the highest point at 8.2682 CNH. The deviation from the price is +0.10% for the low point and -0.46% for the high point.8.2218
8.2682
8.2299
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
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 (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of GBP/CNH indicates that the overall trend is bearish. The signals given by moving averages are at 71.43% bearish. This bearish trend shows slight signs of slowing down given the slightly bearish signals of short-term moving averages. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Bullish trend reversal : Moving Average 20
Type : Bullish
Timeframe : Daily
Technical indicators are bearish. There is still some doubt about the decline in the price.
The Central Indicators scanner specialised in technical indicators, has not detected anything further.
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 resistance of channel
Type : Bearish
Timeframe : Daily
Near support of triangle
Type : Bullish
Timeframe : Daily
The presence of these Japanese chandelier patterns detected by Central Candlesticks that could impact the current short-term trend were also noted:
Bearish harami
Type : Bearish
Timeframe : Daily
Doji
Type : Neutral
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 7.8681 | 7.9885 | 8.2000 | 8.2299 | 8.3797 | 8.5975 | 8.6966 |
| Change (%) | -4.40% | -2.93% | -0.36% | - | +1.82% | +4.47% | +5.67% |
| Change | -0.3618 | -0.2414 | -0.0299 | - | +0.1498 | +0.3676 | +0.4667 |
| Level | Minor | Intermediate | Major | - | Major | Major | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.1341 | 8.1678 | 8.1990 | 8.2327 | 8.2639 | 8.2976 | 8.3288 |
| Camarilla | 8.2124 | 8.2183 | 8.2243 | 8.2302 | 8.2362 | 8.2421 | 8.2481 |
| Woodie | 8.1329 | 8.1672 | 8.1978 | 8.2321 | 8.2627 | 8.2970 | 8.3276 |
| Fibonacci | 8.1678 | 8.1926 | 8.2079 | 8.2327 | 8.2575 | 8.2728 | 8.2976 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.9468 | 8.0687 | 8.1379 | 8.2598 | 8.3290 | 8.4509 | 8.5201 |
| Camarilla | 8.1545 | 8.1720 | 8.1895 | 8.2070 | 8.2245 | 8.2420 | 8.2596 |
| Woodie | 7.9204 | 8.0555 | 8.1115 | 8.2466 | 8.3026 | 8.4377 | 8.4937 |
| Fibonacci | 8.0687 | 8.1417 | 8.1868 | 8.2598 | 8.3328 | 8.3779 | 8.4509 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.8663 | 7.9988 | 8.1570 | 8.2895 | 8.4477 | 8.5802 | 8.7384 |
| Camarilla | 8.2352 | 8.2618 | 8.2885 | 8.3151 | 8.3418 | 8.3684 | 8.3950 |
| Woodie | 7.8791 | 8.0052 | 8.1698 | 8.2959 | 8.4605 | 8.5866 | 8.7512 |
| Fibonacci | 7.9988 | 8.1099 | 8.1785 | 8.2895 | 8.4006 | 8.4692 | 8.5802 |
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): | 41.75 | |
| MACD (12,26,9): | -0.0402 | |
| Directional Movement: | -10.8902 | |
| AROON (14): | -78.5714 | |
| DEMA (21): | 8.2253 | |
| Parabolic SAR (0,02-0,02-0,2): | 8.3128 | |
| Elder Ray (13): | -0.0091 | |
| Super Trend (3,10): | 8.3728 | |
| Zig ZAG (10): | 8.2299 | |
| VORTEX (21): | 1.0371 | |
| Stochastique (14,3,5): | 31.24 | |
| TEMA (21): | 8.2092 | |
| Williams %R (14): | -64.72 | |
| Chande Momentum Oscillator (20): | -0.1691 | |
| Repulse (5,40,3): | -0.2963 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0548 | |
| Courbe Coppock: | 3.10 |
| MA7: | 8.2074 | |
| MA20: | 8.3006 | |
| MA50: | 8.3641 | |
| MA100: | 8.3113 | |
| MAexp7: | 8.2292 | |
| MAexp20: | 8.2757 | |
| MAexp50: | 8.3203 | |
| MAexp100: | 8.3113 | |
| Price / MA7: | +0.27% | |
| Price / MA20: | -0.85% | |
| Price / MA50: | -1.60% | |
| Price / MA100: | -0.98% | |
| Price / MAexp7: | +0.01% | |
| Price / MAexp20: | -0.55% | |
| Price / MAexp50: | -1.09% | |
| Price / MAexp100: | -0.98% |
Quotes :
-
Real time data
-
Forex
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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