GBP/ZAR - 1H - Technical analysis published on 07/20/2023 (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:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
33%
33%
33%
My opinion
Bearish under 23.2072 ZAR
My targets
23.0384 ZAR (-0.0774)
22.5731 ZAR (-0.5427)
My analysis
GBP/ZAR is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 23.2072 ZAR. The next support located at 23.0384 ZAR is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 22.5731 ZAR. Below this support, sellers could then target 22.4355 ZAR. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
6.1
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GBP/ZAR price is 23.1158 ZAR. On the day, this instrument gained +0.00% and was between 23.0747 ZAR and 23.1307 ZAR. This implies that the price is at +0.18% from its lowest and at -0.06% from its highest.23.0747
23.1307
23.1158
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of GBP/ZAR in 1H shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. An assessment of moving averages reveals a bullish signal that could impact this trend:
Moving Average bullish crossovers : AMA20 & AMA50
Type : Bullish
Timeframe : 1 hour
An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
MACD indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is back over -50
Type : Bullish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near resistance of channel
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:
Bullish harami
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 21.7195 | 22.4355 | 23.0384 | 23.1158 | 23.2072 | 23.3205 | 23.6066 |
| Change (%) | -6.04% | -2.94% | -0.33% | - | +0.40% | +0.89% | +2.12% |
| Change | -1.3963 | -0.6803 | -0.0774 | - | +0.0914 | +0.2047 | +0.4908 |
| Level | Major | Minor | Intermediate | - | Minor | 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 | 22.7140 | 22.8762 | 22.9961 | 23.1583 | 23.2782 | 23.4404 | 23.5603 |
| Camarilla | 23.0384 | 23.0643 | 23.0901 | 23.1160 | 23.1419 | 23.1677 | 23.1936 |
| Woodie | 22.6929 | 22.8656 | 22.9750 | 23.1477 | 23.2571 | 23.4298 | 23.5392 |
| Fibonacci | 22.8762 | 22.9840 | 23.0505 | 23.1583 | 23.2661 | 23.3326 | 23.4404 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 22.5731 | 23.0210 | 23.3630 | 23.8109 | 24.1529 | 24.6008 | 24.9428 |
| Camarilla | 23.4878 | 23.5602 | 23.6326 | 23.7050 | 23.7774 | 23.8498 | 23.9222 |
| Woodie | 22.5202 | 22.9945 | 23.3101 | 23.7844 | 24.1000 | 24.5743 | 24.8899 |
| Fibonacci | 23.0210 | 23.3227 | 23.5092 | 23.8109 | 24.1126 | 24.2991 | 24.6008 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 21.4941 | 22.3066 | 23.1159 | 23.9284 | 24.7377 | 25.5502 | 26.3595 |
| Camarilla | 23.4792 | 23.6279 | 23.7765 | 23.9252 | 24.0739 | 24.2225 | 24.3712 |
| Woodie | 21.4925 | 22.3058 | 23.1143 | 23.9276 | 24.7361 | 25.5494 | 26.3579 |
| Fibonacci | 22.3066 | 22.9261 | 23.3089 | 23.9284 | 24.5479 | 24.9307 | 25.5502 |
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): | 41.23 | |
| MACD (12,26,9): | -0.0474 | |
| Directional Movement: | -11.1116 | |
| AROON (14): | 64.2857 | |
| DEMA (21): | 23.0799 | |
| Parabolic SAR (0,02-0,02-0,2): | 23.0631 | |
| Elder Ray (13): | -0.0230 | |
| Super Trend (3,10): | 23.2760 | |
| Zig ZAG (10): | 23.1112 | |
| VORTEX (21): | 0.8770 | |
| Stochastique (14,3,5): | 46.22 | |
| TEMA (21): | 23.0969 | |
| Williams %R (14): | -51.83 | |
| Chande Momentum Oscillator (20): | -0.0097 | |
| Repulse (5,40,3): | -0.0129 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0354 | |
| Courbe Coppock: | 0.32 |
| MA7: | 23.4198 | |
| MA20: | 23.7172 | |
| MA50: | 23.7960 | |
| MA100: | 23.1910 | |
| MAexp7: | 23.1163 | |
| MAexp20: | 23.1502 | |
| MAexp50: | 23.2656 | |
| MAexp100: | 23.4102 | |
| Price / MA7: | -1.30% | |
| Price / MA20: | -2.54% | |
| Price / MA50: | -2.86% | |
| Price / MA100: | -0.32% | |
| Price / MAexp7: | +0.00% | |
| Price / MAexp20: | -0.15% | |
| Price / MAexp50: | -0.65% | |
| Price / MAexp100: | -1.26% |
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.
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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