GBP/ZAR - 1H - Technical analysis published on 09/08/2021 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Strongly bearish
Technical indicators
39%
6%
56%
My opinion
Bearish under 19.8171 ZAR
My targets
19.6505 ZAR (-0.0449)
19.3807 ZAR (-0.3147)
My analysis
The bearish basic trend is very strong on GBP/ZAR but the short term shows some signs of running out of steam. However, a sale could be considered as long as the price remains below 19.8171 ZAR. Crossing the first support at 19.6505 ZAR would be a sign of a further potential price plummet. Sellers would then use the next support located at 19.3807 ZAR as an objective. Crossing it would then enable sellers to target 19.0963 ZAR. Caution, a return to above the resistance located at 19.8171 ZAR would be a sign of a possible consolidation phase of the short-term basic trend. 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 opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.
Force
0
10
4.3
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GBP/ZAR rating is 19.6954 ZAR. The price is lower by -0.01% since the last closing with the lowest point at 19.6748 ZAR and the highest point at 19.7678 ZAR. The deviation from the price is +0.10% for the low point and -0.37% for the high point.19.6748
19.7678
19.6954
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this GBP/ZAR chart shows a sharp bearish trend. 89.29% of the signals given by moving averages are bearish. This strongly bearish trend is showing signs of slowing down given the slightly bearish signals given by short-term moving averages. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:
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, only 7 technical indicators out of 18 studied are currently positioned bullish. Central Indicators, the scanner specialised in technical indicators, has identified these signals:
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : 1 hour
Aroon indicator bullish trend
Type : Bullish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:
Bearish engulfing lines
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 18.2570 | 19.0963 | 19.6505 | 19.6954 | 19.8171 | 19.8927 | 20.1021 |
| Change (%) | -7.30% | -3.04% | -0.23% | - | +0.62% | +1.00% | +2.06% |
| Change | -1.4384 | -0.5991 | -0.0449 | - | +0.1217 | +0.1973 | +0.4067 |
| Level | Minor | Major | Major | - | Intermediate | Minor | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 19.5156 | 19.6000 | 19.6491 | 19.7335 | 19.7826 | 19.8670 | 19.9161 |
| Camarilla | 19.6615 | 19.6737 | 19.6860 | 19.6982 | 19.7104 | 19.7227 | 19.7349 |
| Woodie | 19.4980 | 19.5912 | 19.6315 | 19.7247 | 19.7650 | 19.8582 | 19.8985 |
| Fibonacci | 19.6000 | 19.6510 | 19.6825 | 19.7335 | 19.7845 | 19.8160 | 19.8670 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 19.0340 | 19.3807 | 19.6071 | 19.9538 | 20.1802 | 20.5269 | 20.7533 |
| Camarilla | 19.6758 | 19.7283 | 19.7809 | 19.8334 | 19.8859 | 19.9385 | 19.9910 |
| Woodie | 18.9738 | 19.3506 | 19.5469 | 19.9237 | 20.1200 | 20.4968 | 20.6931 |
| Fibonacci | 19.3807 | 19.5997 | 19.7349 | 19.9538 | 20.1728 | 20.3080 | 20.5269 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 18.4205 | 19.1245 | 19.5488 | 20.2528 | 20.6771 | 21.3811 | 21.8054 |
| Camarilla | 19.6627 | 19.7662 | 19.8696 | 19.9730 | 20.0764 | 20.1799 | 20.2833 |
| Woodie | 18.2806 | 19.0546 | 19.4089 | 20.1829 | 20.5372 | 21.3112 | 21.6655 |
| Fibonacci | 19.1245 | 19.5555 | 19.8218 | 20.2528 | 20.6838 | 20.9501 | 21.3811 |
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): | 54.42 | |
| MACD (12,26,9): | -0.0055 | |
| Directional Movement: | 2.7274 | |
| AROON (14): | 7.1429 | |
| DEMA (21): | 19.7155 | |
| Parabolic SAR (0,02-0,02-0,2): | 19.6748 | |
| Elder Ray (13): | 0.0120 | |
| Super Trend (3,10): | 19.6544 | |
| Zig ZAG (10): | 19.7338 | |
| VORTEX (21): | 0.9696 | |
| Stochastique (14,3,5): | 45.26 | |
| TEMA (21): | 19.7184 | |
| Williams %R (14): | -31.94 | |
| Chande Momentum Oscillator (20): | 0.0277 | |
| Repulse (5,40,3): | 0.1202 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0042 | |
| Courbe Coppock: | 0.16 |
| MA7: | 19.8229 | |
| MA20: | 20.2847 | |
| MA50: | 20.1775 | |
| MA100: | 19.9310 | |
| MAexp7: | 19.7248 | |
| MAexp20: | 19.7230 | |
| MAexp50: | 19.7449 | |
| MAexp100: | 19.8088 | |
| Price / MA7: | -0.64% | |
| Price / MA20: | -2.91% | |
| Price / MA50: | -2.39% | |
| Price / MA100: | -1.18% | |
| Price / MAexp7: | -0.15% | |
| Price / MAexp20: | -0.14% | |
| Price / MAexp50: | -0.25% | |
| Price / MAexp100: | -0.57% |
Quotes :
-
Real time data
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Forex
This member declared not having a position on this financial instrument or a related financial instrument.
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