GBPUSD H4 Chart Technical Overview: Indicators, Key Levels,Patterns

GBPUSD H4 Chart Technical Overview: Indicators, Key Levels, Patterns

Date: 06-24-2019

Time: Pre Asia

H4 Chart Overview is updated prior to London and New York Opening.
This is just a technical summary of the said pair/instrument on the mentioned chart timeframe.
Please note that the fundamentals and Economic Calendar Data Flow may have a strong impact.

Current Value: 1.27563

Technical Indicators

RSI(14) 66.488 Bullish
STOCH(9,6) 73.696 Bullish
STOCHRSI(14) 93.183 Overbought
MACD(12,26) 0.002 Bullish
ADX(14) 40.149 Bullish
Williams %R -3.398 Overbought
CCI(14) 116.5293 Bullish
ATR(14) 0.0041 High Volatility
Highs/Lows(14) 0.0054 Bullish
Ultimate Oscillator 65.812 Bullish
ROC 1.417 Bullish
Bull/Bear Power(13) 0.0113 Bullish
Buy: 9 Sell: 0 Neutral: 0
Summary: STRONG BULLISH

Moving Averages:

SMA 20: 1.26500 / Buy

EMA 50: 1.26550 / Buy

SMA 100: 1.26590 / Buy

SMA 200: 1.27400 / Neutral – Price has just broken above the SMA 200

The first Moving Average Resistance: 1.27900 EMA50 Daily

The first Moving Average Support: 1.26500 SMA 100 H4

Summary: Price is above all main Moving Averages. Strong Bullish. Strong resistance at 1.27900-1.28100 ( EMA 50 Daily )

The upside is capped by Daily SMA 100 and SMA 200 at 1.29500

Bollinger Bands Readings

Bollinger Bandwidth(20): 0.02590

Bollinger Bands %b(20:2): 80.70

Summary: Price has rooms for 20-40 pips upside. Early for a retracement.

Ichimoku Readings:

Senkou Span A: 1.26450

Senkou Span B: 1.26670

Tenkan-sen Kijun-sen: Bullish

Ichimoku Summary: Strong Bullish

Support / Pivot / Resistance

                    S3           S2      S1       Pivot    R1        R2       R3
Classic     1.2611 1.2634 1.2681 1.2705 1.2752 1.2776 1.2823
Fibonacci 1.2634 1.2661 1.2678 1.2705 1.2732 1.2749 1.2776
Camarilla 1.2708 1.2715 1.2721 1.2705 1.2734 1.2740 1.2747
Woodie’s  1.2621 1.2639 1.2691 1.2710 1.2762 1.2781 1.2833

Murrey Math Calculations ( Support / Pivot / Resistance ):

Upside Levels: 1.27560 +1/8MM Overshoot   1.28174 +2/8MM Extremely Overshoot

Downside Levels: 1.26950 8/8MM Support   1.26340 7/8MM Strong Support

Summary: 1.28170 is the key resistance. The price must break and close above 1.28170 in order to continue the bullish move. 

Divergence ( Regular / Hidden) 

RSI: None

MACD: None

OSMA:  None

STOCHASTICS: None

AWESOME: None

CCI: None

Candle Patterns ( Confirmed Only )

Bullish Hammer / Confirmed 2 Candle Before

Breakout and Harmonic Patterns

Inverse Head And Shoulders: Validated / Neckline 1.27200

Bearish Butterfly Pattern: Emerging    Entry: 1.28270 – Details will be published later –

Technical Summary H4 Chart:

Moving Averages make a bullish crossover and headed North. RSI has upside room. Pullbacks towards 1.26000 can be used as buying opportunities. 1.28000 – 1.28200 is the retracement/ correction level. Those levels can be used as a selling opportunity.

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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money

Indicators: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility