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GBP/CNH
GBP CNH
- CNH (-)
- Real time data - Forex
Open: -
Change: -
Volume: -
Low: -
High: -
High / Low range: -
Type: Forex
Ticker: GBPCNH
ISIN:

GBP/CNH - 1H - Technical analysis published on 04/06/2023 (GMT)

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  • Timeframe : 1H
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Summary of the analysis

Trends
Short term: Bullish
Underlying: Bullish
Technical indicators
72%
6%
22%
My opinion
Bullish above 8.5571 CNH
My targets
8.5976 CNH (+0.0173)
8.6223 CNH (+0.0420)
My analysis
A bullish trend on GBP/CNH both in substance and in the short term. A purchase could be considered as long as the price remains above 8.5571 CNH. Each resistance break is a strong signal that the current trend will continue. The first bullish objective would be 8.5976 CNH. Then the price could move towards 8.6223 CNH. Then 8.6966 CNH by extension. Be careful, a return below 8.5571 CNH would be a sign of the trend weakening and a possible correction 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 could be riskier.

Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
6.1

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
15 min. Daily Weekly

Additional analysis

Quotes

The GBP/CNH price is 8.5803 CNH. The price is lower by -0.01% since the last closing and was traded between 8.5595 CNH and 8.5890 CNH over the period. The price is currently at +0.24% from its lowest and -0.10% from its highest.

8.5595
8.5890
8.5803

A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.

Central Gaps

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:
The Central Records scanner for higher/lower results shows the following items:

Central Records

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 LOW record (1 month)

Type : Bearish

Timeframe : Weekly



Technical


Technical analysis of this 1H chart of GBP/CNH indicates that the overall trend is bullish. The signals given by moving averages are 75.00% bullish. This bullish trend is slowing down slightly given the slightly bullish signals of short-term moving averages. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:

Central Indicators

Bullish trend reversal : Moving Average 20

Type : Bullish

Timeframe : 1 hour


Bullish price crossover with Moving Average 20

Type : Bullish

Timeframe : 1 hour


Bullish price crossover with adaptative moving average 20

Type : Bullish

Timeframe : 1 hour


Bullish price crossover with adaptative moving average 50

Type : Bullish

Timeframe : 1 hour



In fact, 13 technical indicators on 18 studied are currently positioned bullish. But beware of excesses. The Central Indicators scanner currently detects this:

Central Indicators

MACD indicator: bullish divergence

Type : Bullish

Timeframe : 1 hour

Other results related to technical indicators were also found by the Central Indicators scanner:

Central Indicators

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Weekly


RSI indicator is back over 50

Type : Bullish

Timeframe : 1 hour


Price is back over the pivot point

Type : Bullish

Timeframe : 1 hour


Momentum indicator is back over 0

Type : Bullish

Timeframe : 1 hour


Williams %R indicator is back over -50

Type : Bullish

Timeframe : 1 hour



The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:

Central Patterns

Near horizontal support

Type : Bullish

Timeframe : 1 hour


Support of channel is broken

Type : Bearish

Timeframe : 1 hour



No result was found by the Central Candlesticks scanner on Japanese candlesticks.


ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 8.4765 8.5206 8.5571 8.5803 8.5976 8.6223 8.6966
Change (%) -1.21% -0.70% -0.27% - +0.20% +0.49% +1.36%
Change -0.1038 -0.0597 -0.0232 - +0.0173 +0.0420 +0.1163
Level Major Minor Minor - Minor Intermediate Major



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
Standard8.51308.53508.55798.57998.60288.62488.6477
Camarilla8.56848.57258.57668.58078.58488.58898.5931
Woodie8.51348.53528.55838.58018.60328.62508.6481
Fibonacci8.53508.55228.56288.57998.59718.60778.6248


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard8.28128.34018.40758.46648.53388.59278.6601
Camarilla8.44028.45188.46338.47498.48658.49818.5096
Woodie8.28558.34228.41188.46858.53818.59488.6644
Fibonacci8.34018.38848.41828.46648.51478.54458.5927


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard7.98098.09988.28748.40638.59398.71288.9004
Camarilla8.39068.41878.44688.47498.50308.53118.5592
Woodie8.01528.11708.32178.42358.62828.73008.9347
Fibonacci8.09988.21698.28938.40638.52348.59588.7128

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): 55.82
MACD (12,26,9): -0.0009
Directional Movement: 6.7568
AROON (14): 35.7143
DEMA (21): 8.5734
Parabolic SAR (0,02-0,02-0,2): 8.5867
Elder Ray (13): 0.0016
Super Trend (3,10): 8.5919
Zig ZAG (10): 8.5809
VORTEX (21): 1.0587
Stochastique (14,3,5): 47.68
TEMA (21): 8.5715
Williams %R (14): -27.12
Chande Momentum Oscillator (20): 0.0003
Repulse (5,40,3): 0.0968
ROCnROLL: 1
TRIX (15,9): -0.0042
Courbe Coppock: 0.05
MA7: 8.5391
MA20: 8.4447
MA50: 8.3491
MA100: 8.3929
MAexp7: 8.5745
MAexp20: 8.5750
MAexp50: 8.5717
MAexp100: 8.5533
Price / MA7: +0.48%
Price / MA20: +1.61%
Price / MA50: +2.77%
Price / MA100: +2.23%
Price / MAexp7: +0.07%
Price / MAexp20: +0.06%
Price / MAexp50: +0.10%
Price / MAexp100: +0.32%

Quotes : - Real time data - Forex

This member declared not having a position on this financial instrument or a related financial instrument.

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