GBP/ZAR - Daily - Technical analysis published on 08/17/2022 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
50%
22%
28%
My opinion
Bullish above 19.7789 ZAR
My targets
20.4703 ZAR (+0.3871)
20.8566 ZAR (+0.7734)
My analysis
The basic bullish trend is very strong on GBP/ZAR but the short term shows some signs of running out of steam. However, a purchase could be considered as long as the price remains above 19.7789 ZAR. Crossing the first resistance at 20.4703 ZAR would be a sign of a potential new surge in the price. Buyers would then use the next resistance located at 20.8566 ZAR as an objective. Crossing it would then enable buyers to target 21.7215 ZAR. Caution, a return to below 19.7789 ZAR would be a sign of a consolidation phase in 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.
Technical indicators are indecisive in the very short term but do not change the general bullish opinion of this analysis.
Force
0
10
5.2
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This analysis was given by Clay707. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
GBP/ZAR rating 20.0832 ZAR. The price has increased by +1.38% since the last closing with the lowest point at 19.7940 ZAR and the highest point at 20.1399 ZAR. The deviation from the price is +1.46% for the low point and -0.28% for the high point.19.7940
20.1399
20.0832
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 HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of GBP/ZAR in Daily shows a strongly overall bullish trend. 82.14% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages indicate this trend is showing signs of running out of steam. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:
Bullish price crossover with Moving Average 50
Type : Bullish
Timeframe : Daily
Bullish price crossover with adaptative moving average 100
Type : Bullish
Timeframe : Daily
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Daily
RSI indicator is back over 50
Type : Bullish
Timeframe : Daily
Ichimoku : price is over the cloud
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Williams %R indicator is back over -50
Type : Bullish
Timeframe : Daily
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near resistance of channel
Type : Bearish
Timeframe : Daily
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 19.0561 | 19.5311 | 19.7789 | 20.0832 | 20.1329 | 20.4703 | 20.8566 |
| Change (%) | -5.11% | -2.75% | -1.52% | - | +0.25% | +1.93% | +3.85% |
| Change | -1.0271 | -0.5521 | -0.3043 | - | +0.0497 | +0.3871 | +0.7734 |
| Level | Major | Intermediate | Intermediate | - | Major | Intermediate | Intermediate |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 19.5745 | 19.6589 | 19.7341 | 19.8185 | 19.8937 | 19.9781 | 20.0533 |
| Camarilla | 19.7655 | 19.7801 | 19.7948 | 19.8094 | 19.8240 | 19.8387 | 19.8533 |
| Woodie | 19.5700 | 19.6566 | 19.7296 | 19.8162 | 19.8892 | 19.9758 | 20.0488 |
| Fibonacci | 19.6589 | 19.7198 | 19.7575 | 19.8185 | 19.8794 | 19.9171 | 19.9781 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 18.7425 | 19.1754 | 19.4185 | 19.8514 | 20.0945 | 20.5274 | 20.7705 |
| Camarilla | 19.4756 | 19.5376 | 19.5995 | 19.6615 | 19.7235 | 19.7854 | 19.8474 |
| Woodie | 18.6475 | 19.1280 | 19.3235 | 19.8040 | 19.9995 | 20.4800 | 20.6755 |
| Fibonacci | 19.1754 | 19.4337 | 19.5932 | 19.8514 | 20.1097 | 20.2692 | 20.5274 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 18.7226 | 19.1859 | 19.7062 | 20.1695 | 20.6898 | 21.1531 | 21.6734 |
| Camarilla | 19.9561 | 20.0463 | 20.1364 | 20.2266 | 20.3168 | 20.4069 | 20.4971 |
| Woodie | 18.7512 | 19.2002 | 19.7348 | 20.1838 | 20.7184 | 21.1674 | 21.7020 |
| Fibonacci | 19.1859 | 19.5616 | 19.7937 | 20.1695 | 20.5452 | 20.7773 | 21.1531 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 51.28 | |
| MACD (12,26,9): | -0.0560 | |
| Directional Movement: | -2.7585 | |
| AROON (14): | -64.2857 | |
| DEMA (21): | 20.0021 | |
| Parabolic SAR (0,02-0,02-0,2): | 20.2195 | |
| Elder Ray (13): | -0.0315 | |
| Super Trend (3,10): | 20.5084 | |
| Zig ZAG (10): | 20.0842 | |
| VORTEX (21): | 0.8986 | |
| Stochastique (14,3,5): | 33.96 | |
| TEMA (21): | 19.8689 | |
| Williams %R (14): | -47.01 | |
| Chande Momentum Oscillator (20): | -0.1712 | |
| Repulse (5,40,3): | 1.6686 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0020 | |
| Courbe Coppock: | 3.98 |
| MA7: | 19.8609 | |
| MA20: | 20.1292 | |
| MA50: | 19.9521 | |
| MA100: | 19.7654 | |
| MAexp7: | 19.9310 | |
| MAexp20: | 20.0391 | |
| MAexp50: | 19.9915 | |
| MAexp100: | 19.9532 | |
| Price / MA7: | +1.12% | |
| Price / MA20: | -0.23% | |
| Price / MA50: | +0.66% | |
| Price / MA100: | +1.61% | |
| Price / MAexp7: | +0.76% | |
| Price / MAexp20: | +0.21% | |
| Price / MAexp50: | +0.45% | |
| Price / MAexp100: | +0.65% |
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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