GBPUSD H4 Chart Technical Study

Note: I am sharing this work to answer back the requests / PMs.

Mostly Used Technical Indicators, Technical Readings :

I just use some of them. ( A few only )

Date: 06-24-2019

Time: Pre Asia


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.



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

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 Harmonic 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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