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GBP/ZAR
GBP ZAR
- ZAR (-)
- Real time data - Forex
Open: -
Change: -
Volume: -
Low: -
High: -
High / Low range: -
Type: Forex
Ticker: GBPZAR
ISIN:

GBP/ZAR - 1H - Technical analysis published on 01/25/2023 (GMT)

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  • Timeframe : 1H
  • - Analysis generated on
  • Status : TARGET REACHED

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Summary of the analysis

Trends
Short term: Neutral
Underlying: Bearish
Technical indicators
33%
22%
44%
My opinion
Bearish under 21.3214 ZAR
My targets
21.1788 ZAR (-0.0241)
21.0744 ZAR (-0.1285)
My analysis
Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 21.3214 ZAR remains possible. It is advisable to trade GBP/ZAR with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 21.3214 ZAR. The next bearish objective for sellers is set at 21.1788 ZAR. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 21.0744 ZAR. In case of crossing, the next objective would be the support located at 20.9236 ZAR. PS: if there is a bullish break in the resistance located at 21.3214 ZAR we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.

In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
2.5

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
15 min. Daily Weekly

Additional analysis

Quotes

The GBP/ZAR rating is 21.2029 ZAR. The price registered a decrease of -0.03% on the session with the lowest point at 21.1223 ZAR and the highest point at 21.2684 ZAR. The deviation from the price is +0.38% for the low point and -0.31% for the high point.

21.1223
21.2684
21.2029

A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.

Central Gaps

Bullish opening

Type : Bullish

Timeframe : Openning



Here is a more detailed summary of the historical variations registered by GBP/ZAR:
The Central Records scanner for higher/lower results shows the following items:

Central Records

Near a new HIGH record (1 year)

Type : Bullish

Timeframe : Weekly


Near a new LOW record (1st january)

Type : Bearish

Timeframe : Weekly


Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly



Technical


Technical analysis of GBP/ZAR in 1H shows an overall bearish trend. 67.86% of the signals given by moving averages are bearish. Caution: as the signals currently given by short-term moving averages are rather neutral, the bearish trend could slow down. An assessment of moving averages reveals several bearish signals that could impact this trend:

Central Indicators

Bearish price crossover with Moving Average 20

Type : Bearish

Timeframe : 1 hour


Bearish price crossover with adaptative moving average 20

Type : Bearish

Timeframe : 1 hour



An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
But beware of excesses. The Central Indicators scanner currently detects this:

Central Indicators

Previous candle closed over Bollinger bands

Type : Neutral

Timeframe : 1 hour


RSI indicator: bearish divergence

Type : Bearish

Timeframe : 1 hour

Other results related to technical indicators were also found by the Central Indicators scanner:

Central Indicators

RSI indicator is back under 50

Type : Bearish

Timeframe : 1 hour


Aroon indicator bullish trend

Type : Bullish

Timeframe : 1 hour


Momentum indicator is back under 0

Type : Bearish

Timeframe : 1 hour


Williams %R indicator is back under -50

Type : Bearish

Timeframe : 1 hour



Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:

Central Patterns

Near resistance of channel

Type : Bearish

Timeframe : 1 hour



There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:

Central Candlesticks

Doji

Type : Neutral

Timeframe : 1 hour




ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 20.9236 21.0744 21.1788 21.2029 21.3214 21.4275 21.7215
Change (%) -1.32% -0.61% -0.11% - +0.56% +1.06% +2.45%
Change -0.2793 -0.1285 -0.0241 - +0.1185 +0.2246 +0.5186
Level Minor Minor Major - Minor Major Major



Attention could also be paid to pivot points to set price objectives:

Daily
Pivot points S3 S2 S1 PP R1 R2 R3
Standard20.870621.025921.117221.272521.363821.519121.6104
Camarilla21.140821.163421.186021.208621.231221.253821.2764
Woodie20.838721.009921.085321.256521.331921.503121.5785
Fibonacci21.025921.120121.178321.272521.366721.424921.5191


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard19.739620.139220.680321.079921.621022.020622.5617
Camarilla20.962721.048921.135221.221421.307621.393921.4801
Woodie19.810420.174620.751121.115321.691822.056022.6325
Fibonacci20.139220.498620.720621.079921.439321.661322.0206


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard18.390419.370419.976920.956921.563422.543423.1499
Camarilla20.147120.292520.438020.583420.728820.874321.0197
Woodie18.203719.277019.790220.863521.376722.450022.9632
Fibonacci19.370419.976420.350920.956921.562921.937422.5434

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): 47.03
MACD (12,26,9): -0.0103
Directional Movement: 8.4968
AROON (14): 21.4286
DEMA (21): 21.1801
Parabolic SAR (0,02-0,02-0,2): 21.1247
Elder Ray (13): 0.0297
Super Trend (3,10): 21.2904
Zig ZAG (10): 21.1840
VORTEX (21): 0.9901
Stochastique (14,3,5): 59.64
TEMA (21): 21.1819
Williams %R (14): -60.78
Chande Momentum Oscillator (20): -0.0013
Repulse (5,40,3): -0.1836
ROCnROLL: 2
TRIX (15,9): -0.0112
Courbe Coppock: 0.04
MA7: 21.2017
MA20: 20.7779
MA50: 20.8519
MA100: 20.5745
MAexp7: 21.1901
MAexp20: 21.1985
MAexp50: 21.2184
MAexp100: 21.1953
Price / MA7: +0.01%
Price / MA20: +2.05%
Price / MA50: +1.68%
Price / MA100: +3.05%
Price / MAexp7: +0.07%
Price / MAexp20: +0.03%
Price / MAexp50: -0.07%
Price / MAexp100: +0.04%

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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