GBP/ZAR - 1H - Technical analysis published on 09/25/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
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
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
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.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by GBP/ZAR:
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:
RSI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
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:
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
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| 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 |
|---|---|---|---|---|---|---|---|
| Standard | 22.3972 | 22.6535 | 22.8048 | 23.0611 | 23.2124 | 23.4687 | 23.6200 |
| Camarilla | 22.8441 | 22.8815 | 22.9188 | 22.9562 | 22.9936 | 23.0309 | 23.0683 |
| Woodie | 22.3448 | 22.6273 | 22.7524 | 23.0349 | 23.1600 | 23.4425 | 23.5676 |
| Fibonacci | 22.6535 | 22.8092 | 22.9054 | 23.0611 | 23.2168 | 23.3130 | 23.4687 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 21.9399 | 22.4248 | 22.6905 | 23.1754 | 23.4411 | 23.9260 | 24.1917 |
| Camarilla | 22.7498 | 22.8186 | 22.8874 | 22.9562 | 23.0250 | 23.0938 | 23.1626 |
| Woodie | 21.8303 | 22.3700 | 22.5809 | 23.1206 | 23.3315 | 23.8712 | 24.0821 |
| Fibonacci | 22.4248 | 22.7115 | 22.8887 | 23.1754 | 23.4621 | 23.6393 | 23.9260 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 21.4692 | 22.1930 | 23.0494 | 23.7732 | 24.6296 | 25.3534 | 26.2098 |
| Camarilla | 23.4714 | 23.6162 | 23.7611 | 23.9059 | 24.0508 | 24.1956 | 24.3405 |
| Woodie | 21.5356 | 22.2262 | 23.1158 | 23.8064 | 24.6960 | 25.3866 | 26.2762 |
| Fibonacci | 22.1930 | 22.7966 | 23.1695 | 23.7732 | 24.3768 | 24.7497 | 25.3534 |
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
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Forex
This member declared not having a position on this financial instrument or a related financial instrument.
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