GBP/ZAR - Daily - Technical analysis published on 09/08/2022 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Bearish
Technical indicators
33%
28%
39%
My opinion
Bearish under 20.1246 ZAR
My targets
19.6626 ZAR (-0.2367)
19.0561 ZAR (-0.8432)
My analysis
There is a bearish trend on GBP/ZAR both at the basic level and in the short term. A sale could be considered, so long as the price remains below 20.1246 ZAR. Each support break is a strong signal that the current trend will continue. The first bearish objective would be 19.6626 ZAR. Then the price could move towards 19.0561 ZAR. Then 18.3118 ZAR by extension. Be careful, a return to above the resistance 20.1246 ZAR would be a sign of a weakening of the trend and a possible rebound 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 is perhaps more risky.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
3
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
GBP/ZAR rating 19.8993 ZAR. On the day, this instrument lost -0.01% and was between 19.8347 ZAR and 19.9308 ZAR. This implies that the price is at +0.33% from its lowest and at -0.16% from its highest.19.8347
19.9308
19.8993
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
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
A technical analysis in Daily of this GBP/ZAR chart shows a bearish trend. 67.86% of the signals given by moving averages are bearish. The overall trend seems to be showing some signs of weakness, as do the tentative bearish signals from short-term moving averages. The Central Indicators market scanner is currently detecting several bearish and bullish signals that could impact this trend:
Bullish trend reversal : Moving Average 20
Type : Bullish
Timeframe : Daily
Bearish price crossover with Moving Average 100
Type : Bearish
Timeframe : Daily
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
The Central Indicators scanner found no further results concerning independent technical indicators.
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near support of channel
Type : Bullish
Timeframe : Daily
For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:
Bullish harami
Type : Bullish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 18.3118 | 19.0561 | 19.6626 | 19.8993 | 19.9115 | 20.1246 | 20.5174 |
| Change (%) | -7.98% | -4.24% | -1.19% | - | +0.06% | +1.13% | +3.11% |
| Change | -1.5875 | -0.8432 | -0.2367 | - | +0.0122 | +0.2253 | +0.6181 |
| Level | Minor | Major | Major | - | Major | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 19.6811 | 19.7623 | 19.8316 | 19.9128 | 19.9821 | 20.0633 | 20.1326 |
| Camarilla | 19.8594 | 19.8732 | 19.8870 | 19.9008 | 19.9146 | 19.9284 | 19.9422 |
| Woodie | 19.6751 | 19.7593 | 19.8256 | 19.9098 | 19.9761 | 20.0603 | 20.1266 |
| Fibonacci | 19.7623 | 19.8198 | 19.8553 | 19.9128 | 19.9703 | 20.0058 | 20.0633 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 19.2796 | 19.4674 | 19.6897 | 19.8775 | 20.0998 | 20.2876 | 20.5099 |
| Camarilla | 19.7993 | 19.8369 | 19.8745 | 19.9121 | 19.9497 | 19.9873 | 20.0249 |
| Woodie | 19.2970 | 19.4760 | 19.7071 | 19.8861 | 20.1172 | 20.2962 | 20.5273 |
| Fibonacci | 19.4674 | 19.6240 | 19.7208 | 19.8775 | 20.0341 | 20.1309 | 20.2876 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 18.5278 | 19.0560 | 19.4667 | 19.9949 | 20.4056 | 20.9338 | 21.3445 |
| Camarilla | 19.6192 | 19.7053 | 19.7913 | 19.8774 | 19.9635 | 20.0495 | 20.1356 |
| Woodie | 18.4691 | 19.0266 | 19.4080 | 19.9655 | 20.3469 | 20.9044 | 21.2858 |
| Fibonacci | 19.0560 | 19.4147 | 19.6362 | 19.9949 | 20.3536 | 20.5751 | 20.9338 |
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): | 48.53 | |
| MACD (12,26,9): | -0.0413 | |
| Directional Movement: | -3.8917 | |
| AROON (14): | -42.8571 | |
| DEMA (21): | 19.8773 | |
| Parabolic SAR (0,02-0,02-0,2): | 20.1254 | |
| Elder Ray (13): | -0.0284 | |
| Super Trend (3,10): | 20.3943 | |
| Zig ZAG (10): | 19.9194 | |
| VORTEX (21): | 1.0226 | |
| Stochastique (14,3,5): | 47.54 | |
| TEMA (21): | 19.8396 | |
| Williams %R (14): | -53.89 | |
| Chande Momentum Oscillator (20): | -0.2008 | |
| Repulse (5,40,3): | 0.4019 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0412 | |
| Courbe Coppock: | 0.93 |
| MA7: | 19.9032 | |
| MA20: | 19.9088 | |
| MA50: | 20.0784 | |
| MA100: | 19.8755 | |
| MAexp7: | 19.8976 | |
| MAexp20: | 19.9335 | |
| MAexp50: | 19.9560 | |
| MAexp100: | 19.9493 | |
| Price / MA7: | -0.02% | |
| Price / MA20: | -0.05% | |
| Price / MA50: | -0.89% | |
| Price / MA100: | +0.12% | |
| Price / MAexp7: | +0.01% | |
| Price / MAexp20: | -0.17% | |
| Price / MAexp50: | -0.28% | |
| Price / MAexp100: | -0.25% |
Quotes :
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Real time data
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Forex
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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