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 09/25/2023 (GMT)

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  • Timeframe : 1H
  • - Analysis generated on
  • Status : LEVEL MAINTAINED

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Summary of the analysis

Trends
Short term: Strongly bearish
Underlying: Strongly bearish
Technical indicators
11%
50%
39%
My opinion
Bearish under 23.0907 ZAR
My targets
22.6905 ZAR (-0.2452)
22.6326 ZAR (-0.3031)
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 23.0907 ZAR. The sellers' bearish objective is set at 22.6905 ZAR. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 22.6326 ZAR. In case of crossing, the next objective would be the support located at 21.7195 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
7.3

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

GBP/ZAR rating 22.9357 ZAR. The price registered a decrease of -0.09% on the session and was between 22.8796 ZAR and 23.0607 ZAR. This implies that the price is at +0.25% from its lowest and at -0.54% from its highest.

22.8796
23.0607
22.9357

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, which identifies the highest / lowest, has detected an element:

Central Records

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. The overall trend is supported 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, only 9 technical indicators out of 18 studied are currently positioned bearish. Caution: the Central Indicators scanner currently detects an excess:

Central Indicators

RSI indicator: bullish divergence

Type : Bullish

Timeframe : 1 hour


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.

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:

Central Patterns

Near horizontal support

Type : Bullish

Timeframe : 1 hour



No result was found by the Central Candlesticks scanner on Japanese candlesticks.


ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 20.8566 21.7195 22.6326 22.9357 22.9397 23.0907 23.2734
Change (%) -9.06% -5.30% -1.32% - +0.02% +0.68% +1.47%
Change -2.0791 -1.2162 -0.3031 - +0.0040 +0.1550 +0.3377
Level Intermediate Major Major - Intermediate Minor Minor



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
Standard22.397222.653522.804823.061123.212423.468723.6200
Camarilla22.844122.881522.918822.956222.993623.030923.0683
Woodie22.344822.627322.752423.034923.160023.442523.5676
Fibonacci22.653522.809222.905423.061123.216823.313023.4687


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard21.939922.424822.690523.175423.441123.926024.1917
Camarilla22.749822.818622.887422.956223.025023.093823.1626
Woodie21.830322.370022.580923.120623.331523.871224.0821
Fibonacci22.424822.711522.888723.175423.462123.639323.9260


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard21.469222.193023.049423.773224.629625.353426.2098
Camarilla23.471423.616223.761123.905924.050824.195624.3405
Woodie21.535622.226223.115823.806424.696025.386626.2762
Fibonacci22.193022.796623.169523.773224.376824.749725.3534

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): 34.89
MACD (12,26,9): -0.0383
Directional Movement: -7.5928
AROON (14): -21.4286
DEMA (21): 22.9131
Parabolic SAR (0,02-0,02-0,2): 23.0434
Elder Ray (13): -0.0426
Super Trend (3,10): 23.0529
Zig ZAG (10): 22.9083
VORTEX (21): 0.9433
Stochastique (14,3,5): 18.96
TEMA (21): 22.9263
Williams %R (14): -79.74
Chande Momentum Oscillator (20): -0.0588
Repulse (5,40,3): -0.0144
ROCnROLL: 2
TRIX (15,9): -0.0246
Courbe Coppock: 0.11
MA7: 23.2786
MA20: 23.6039
MA50: 23.5820
MA100: 23.7070
MAexp7: 22.9415
MAexp20: 22.9670
MAexp50: 23.0583
MAexp100: 23.1800
Price / MA7: -1.47%
Price / MA20: -2.83%
Price / MA50: -2.74%
Price / MA100: -3.25%
Price / MAexp7: -0.02%
Price / MAexp20: -0.13%
Price / MAexp50: -0.53%
Price / MAexp100: -1.05%

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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