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 04/19/2023 (GMT)

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  • Timeframe : 1H
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Summary of the analysis

Trends
Short term: Strongly bearish
Underlying: Strongly bearish
Technical indicators
17%
50%
33%
My opinion
Bearish under 22.6049 ZAR
My targets
22.5440 ZAR (-0.0248)
22.3835 ZAR (-0.1853)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on GBP/ZAR as long as the price remains well below 22.6049 ZAR. The sellers' bearish objective is set at 22.5440 ZAR. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 22.3835 ZAR. In case of crossing, the next objective would be the support located at 21.7215 ZAR. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.

In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
6.1

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.

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 price is 22.5688 ZAR. The price registered an increase of +0.00% on the session and was traded between 22.5260 ZAR and 22.7606 ZAR over the period. The price is currently at +0.19% from its lowest and -0.84% from its highest.

22.5260
22.7606
22.5688

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.

Central Gaps

Bullish opening

Type : Bullish

Timeframe : Openning



So that you have an overall view of the price change, here is a table showing the variations over several periods:
The Central Records scanner for higher/lower results shows the following items:

Central Records

Near a new HIGH record (5 years)

Type : Bullish

Timeframe : Weekly


Near a new HIGH record (1 year)

Type : Bullish

Timeframe : Weekly


Near a new HIGH record (1st january)

Type : Bullish

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. 82.14% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators market scanner is currently detecting several bearish signals that could impact this trend:

Central Indicators

Bearish trend reversal : Moving Average 20

Type : Bearish

Timeframe : 1 hour


Bearish trend reversal : Moving Average 50

Type : Bearish

Timeframe : 1 hour



Technical indicators are slightly bearish. There is therefore considerable uncertainty about the continuation of the decline.
Caution: the Central Indicators scanner currently detects an excess:

Central Indicators

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : 1 hour

No additional result has been identified by Central Indicators, the scanner specialised in technical indicators.

The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:

Central Patterns

Near horizontal support

Type : Bullish

Timeframe : 1 hour


Support of channel is broken

Type : Bearish

Timeframe : 1 hour



Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:

Central Candlesticks

Bullish harami

Type : Bullish

Timeframe : 1 hour




ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 21.7215 22.3835 22.5440 22.5688 22.6049 22.6775 22.7292
Change (%) -3.75% -0.82% -0.11% - +0.16% +0.48% +0.71%
Change -0.8473 -0.1853 -0.0248 - +0.0361 +0.1087 +0.1604
Level Major Minor Intermediate - Minor Major Intermediate



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

Daily
Pivot points S3 S2 S1 PP R1 R2 R3
Standard22.320922.433522.501422.614022.681922.794522.8624
Camarilla22.519722.536222.552822.569322.585922.602422.6189
Woodie22.298622.422322.479122.602822.659622.783322.8401
Fibonacci22.433522.502522.545122.614022.683022.725622.7945


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard21.648722.037222.251922.640422.855123.243623.4583
Camarilla22.300822.356122.411422.466722.522022.577322.6326
Woodie21.561921.993822.165122.597022.768323.200223.3715
Fibonacci22.037222.267622.409922.640422.870823.013123.2436


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard20.368821.029121.486622.146922.604423.264723.7222
Camarilla21.636821.739321.841721.944222.046722.149122.2516
Woodie20.267520.978421.385322.096222.503123.214023.6209
Fibonacci21.029121.456121.719922.146922.573922.837723.2647

Numerical data


The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:

Technical indicators
Moving averages

RSI (14): 40.77
MACD (12,26,9): 0.0023
Directional Movement: -6.6691
AROON (14): -42.8571
DEMA (21): 22.6247
Parabolic SAR (0,02-0,02-0,2): 22.7480
Elder Ray (13): -0.0650
Super Trend (3,10): 22.7172
Zig ZAG (10): 22.5613
VORTEX (21): 0.9820
Stochastique (14,3,5): 16.97
TEMA (21): 22.6214
Williams %R (14): -86.40
Chande Momentum Oscillator (20): -0.0071
Repulse (5,40,3): -0.2942
ROCnROLL: 2
TRIX (15,9): 0.0074
Courbe Coppock: 0.53
MA7: 22.6725
MA20: 22.4781
MA50: 22.1953
MA100: 21.5932
MAexp7: 22.6084
MAexp20: 22.6186
MAexp50: 22.6114
MAexp100: 22.6241
Price / MA7: -0.46%
Price / MA20: +0.40%
Price / MA50: +1.68%
Price / MA100: +4.52%
Price / MAexp7: -0.17%
Price / MAexp20: -0.22%
Price / MAexp50: -0.19%
Price / MAexp100: -0.24%

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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