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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 04/18/2024 (GMT)

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  • Timeframe : 1H
  • - Analysis generated on
  • Status : TARGET REACHED

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Summary of the analysis

Trends
Short term: Strongly bullish
Underlying: Strongly bullish
Technical indicators
83%
0%
17%
My opinion
Bullish above 23.7908 ZAR
My targets
23.9544 ZAR (+0.0779)
24.1257 ZAR (+0.2492)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on GBP/ZAR as long as the price remains well above 23.7908 ZAR. The buyers' bullish objective is set at 23.9544 ZAR. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 24.1257 ZAR. If there is any crossing, the next objective would be the resistance located at 24.5491 ZAR. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.

Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.8

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.

Londinia
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 rating is 23.8765 ZAR. The price has increased by +0.87% since the last closing and was between 23.6211 ZAR and 23.8999 ZAR. This implies that the price is at +1.08% from its lowest and at -0.10% from its highest.

23.6211
23.8999
23.8765

The Central Gaps scanner detects a bullish opening. A small advantage for buyers 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 several elements:

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 HIGH record (1 month)

Type : Bullish

Timeframe : Weekly



Technical


Technical analysis of GBP/ZAR in 1H shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

In fact, according to the parameters integrated into the Central Analyzer system, 15 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:

Central Indicators

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : 1 hour


Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Central Indicators

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : 1 hour


Pivot points : price is over resistance 2

Type : Neutral

Timeframe : Weekly



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

Resistance of channel is broken

Type : Bullish

Timeframe : 1 hour



The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:

Central Candlesticks

Bullish engulfing lines

Type : Bullish

Timeframe : 1 hour




ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 23.6732 23.7391 23.7908 23.8765 23.9544 24.1257 24.5491
Change (%) -0.85% -0.58% -0.36% - +0.33% +1.04% +2.82%
Change -0.2033 -0.1374 -0.0857 - +0.0779 +0.2492 +0.6726
Level Major Minor Major - Minor Minor Major



To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:

Daily
Pivot points S3 S2 S1 PP R1 R2 R3
Standard23.398223.501023.585323.688123.772423.875223.9595
Camarilla23.618323.635423.652623.669723.686923.704023.7212
Woodie23.389123.496423.576223.683523.763323.870623.9504
Fibonacci23.501023.572423.616623.688123.759523.803723.8752


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard23.035023.192423.341723.499123.648423.805823.9551
Camarilla23.406623.434723.462823.490923.519023.547123.5752
Woodie23.030923.190423.337623.497123.644323.803823.9510
Fibonacci23.192423.309623.382023.499123.616323.688723.8058


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard22.939023.320023.548623.929624.158224.539224.7678
Camarilla23.609523.665323.721223.777123.833023.888923.9447
Woodie22.862723.281923.472323.891524.081924.501124.6915
Fibonacci23.320023.552923.696823.929624.162524.306424.5392

Numerical data


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

Technical indicators
Moving averages

RSI (14): 70.61
MACD (12,26,9): 0.0450
Directional Movement: 17.9582
AROON (14): 64.2857
DEMA (21): 23.8183
Parabolic SAR (0,02-0,02-0,2): 23.7288
Elder Ray (13): 0.0699
Super Trend (3,10): 23.7048
Zig ZAG (10): 23.8779
VORTEX (21): 1.1636
Stochastique (14,3,5): 87.18
TEMA (21): 23.8495
Williams %R (14): -7.68
Chande Momentum Oscillator (20): 0.2050
Repulse (5,40,3): 0.2959
ROCnROLL: 1
TRIX (15,9): 0.0164
Courbe Coppock: 1.23
MA7: 23.6261
MA20: 23.6998
MA50: 23.9032
MA100: 23.8299
MAexp7: 23.8280
MAexp20: 23.7665
MAexp50: 23.7154
MAexp100: 23.6691
Price / MA7: +1.06%
Price / MA20: +0.75%
Price / MA50: -0.11%
Price / MA100: +0.20%
Price / MAexp7: +0.20%
Price / MAexp20: +0.46%
Price / MAexp50: +0.68%
Price / MAexp100: +0.88%

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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Londinia
Londinia AI

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