GBP/ZAR - Daily - Technical analysis published on 07/21/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bearish
Technical indicators
17%
61%
22%
My opinion
Bearish under 23.2072 ZAR
My targets
22.4355 ZAR (-0.6427)
21.7195 ZAR (-1.3587)
My analysis
In the short term, we can see an acceleration in the bearish trend on GBP/ZAR, which is a positive signal for sellers. As long as the price remains above 23.2072 ZAR, a sale could be considered. The first bearish objective is located at 22.4355 ZAR. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 21.7195 ZAR as an objective. Crossing it would then enable sellers to target 20.3333 ZAR. If the price were to return above 23.2072 ZAR, it would probably only trigger a small rebound in the short term to give a better base for restarting. Trading this rebound may be risky.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
4.6
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Additional analysis
Quotes
The GBP/ZAR rating is 23.0782 ZAR. The price registered an increase of +0.00% on the session and was traded between 23.0704 ZAR and 23.0950 ZAR over the period. The price is currently at +0.03% from its lowest and -0.07% from its highest.23.0704
23.0950
23.0782
The Central Gaps scanner detects a bullish opening. A small advantage for buyers 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 (5 years)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of GBP/ZAR in Daily shows an overall bearish trend. 64.29% of the signals given by moving averages are bearish. The overall trend is reinforced by the strong bearish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, 11 technical indicators on 18 studied are currently positioned bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Support of channel is broken
Type : Bearish
Timeframe : Daily
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects these bullish signals that could support the hypothesis of a small rebound in the very short term:
Bullish harami
Type : Bullish
Timeframe : Daily
Bullish harami cross
Type : Bullish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 20.3333 | 21.7195 | 22.4355 | 23.0782 | 23.2072 | 23.6066 | 24.5070 |
| Change (%) | -11.89% | -5.89% | -2.78% | - | +0.56% | +2.29% | +6.19% |
| Change | -2.7449 | -1.3587 | -0.6427 | - | +0.1290 | +0.5284 | +1.4288 |
| Level | Intermediate | Major | Minor | - | Major | Major | Major |
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 | 22.6653 | 22.7720 | 22.9253 | 23.0320 | 23.1853 | 23.2920 | 23.4453 |
| Camarilla | 23.0071 | 23.0309 | 23.0548 | 23.0786 | 23.1024 | 23.1263 | 23.1501 |
| Woodie | 22.6886 | 22.7837 | 22.9486 | 23.0437 | 23.2086 | 23.3037 | 23.4686 |
| Fibonacci | 22.7720 | 22.8713 | 22.9327 | 23.0320 | 23.1313 | 23.1927 | 23.2920 |
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 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): | 37.01 | |
| MACD (12,26,9): | -0.1315 | |
| Directional Movement: | -11.6508 | |
| AROON (14): | -64.2857 | |
| DEMA (21): | 23.4304 | |
| Parabolic SAR (0,02-0,02-0,2): | 23.9373 | |
| Elder Ray (13): | -0.3929 | |
| Super Trend (3,10): | 23.8883 | |
| Zig ZAG (10): | 23.0899 | |
| VORTEX (21): | 0.9485 | |
| Stochastique (14,3,5): | 10.15 | |
| TEMA (21): | 23.2650 | |
| Williams %R (14): | -87.09 | |
| Chande Momentum Oscillator (20): | -0.7867 | |
| Repulse (5,40,3): | -0.8982 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0185 | |
| Courbe Coppock: | 3.82 |
| MA7: | 23.3455 | |
| MA20: | 23.6773 | |
| MA50: | 23.7755 | |
| MA100: | 23.2031 | |
| MAexp7: | 23.3151 | |
| MAexp20: | 23.5574 | |
| MAexp50: | 23.5407 | |
| MAexp100: | 23.1315 | |
| Price / MA7: | -1.14% | |
| Price / MA20: | -2.53% | |
| Price / MA50: | -2.93% | |
| Price / MA100: | -0.54% | |
| Price / MAexp7: | -1.02% | |
| Price / MAexp20: | -2.03% | |
| Price / MAexp50: | -1.96% | |
| Price / MAexp100: | -0.23% |
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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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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