GBP/ZAR - 1H - Technical analysis published on 06/20/2024 (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
22%
50%
28%
My opinion
Bearish under 22.9507 ZAR
My targets
22.6981 ZAR (-0.1047)
22.4575 ZAR (-0.3453)
My analysis
The bearish trend is currently very strong for GBP/ZAR. As long as the price remains below the resistance at 22.9507 ZAR, you could try to take advantage of the bearish rally. The first bearish objective is located at 22.6981 ZAR. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 22.4575 ZAR as an objective. Crossing it would then enable sellers to target 21.7195 ZAR. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
7
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Additional analysis
Quotes
The GBP/ZAR price is 22.8028 ZAR. The price registered a decrease of -0.03% on the session with the lowest point at 22.7747 ZAR and the highest point at 23.0816 ZAR. The deviation from the price is +0.12% for the low point and -1.21% for the high point.22.7747
23.0816
22.8028
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by GBP/ZAR:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
New LOW record (1st january)
Type : Bearish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of GBP/ZAR in 1H shows a overall strongly bearish trend. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. An assessment of moving averages reveals a bearish signal that could impact this trend:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : 1 hour
In fact, of the 18 technical indicators analysed by Central Analyzer, 4 are bullish, 5 are neutral and 9 are bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Near support of channel
Type : Bullish
Timeframe : 1 hour
For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:
Three black crows
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 21.7195 | 22.4575 | 22.8014 | 22.8028 | 22.9507 | 23.2225 | 23.3932 |
| Change (%) | -4.75% | -1.51% | -0.01% | - | +0.65% | +1.84% | +2.59% |
| Change | -1.0833 | -0.3453 | -0.0014 | - | +0.1479 | +0.4197 | +0.5904 |
| Level | Intermediate | Major | Intermediate | - | Major | Intermediate | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 22.5766 | 22.6878 | 22.7490 | 22.8602 | 22.9214 | 23.0326 | 23.0938 |
| Camarilla | 22.7627 | 22.7785 | 22.7943 | 22.8101 | 22.8259 | 22.8417 | 22.8575 |
| Woodie | 22.5515 | 22.6753 | 22.7239 | 22.8477 | 22.8963 | 23.0201 | 23.0687 |
| Fibonacci | 22.6878 | 22.7537 | 22.7944 | 22.8602 | 22.9261 | 22.9668 | 23.0326 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 22.1687 | 22.6981 | 23.0121 | 23.5415 | 23.8555 | 24.3849 | 24.6989 |
| Camarilla | 23.0943 | 23.1716 | 23.2489 | 23.3262 | 23.4035 | 23.4808 | 23.5581 |
| Woodie | 22.0611 | 22.6443 | 22.9045 | 23.4877 | 23.7479 | 24.3311 | 24.5913 |
| Fibonacci | 22.6981 | 23.0203 | 23.2193 | 23.5415 | 23.8637 | 24.0627 | 24.3849 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 22.1309 | 22.5274 | 23.2362 | 23.6327 | 24.3415 | 24.7380 | 25.4468 |
| Camarilla | 23.6409 | 23.7423 | 23.8436 | 23.9449 | 24.0462 | 24.1475 | 24.2489 |
| Woodie | 22.2870 | 22.6055 | 23.3923 | 23.7108 | 24.4976 | 24.8161 | 25.6029 |
| Fibonacci | 22.5274 | 22.9497 | 23.2105 | 23.6327 | 24.0550 | 24.3158 | 24.7380 |
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): | 37.75 | |
| MACD (12,26,9): | -0.0125 | |
| Directional Movement: | -10.6137 | |
| AROON (14): | -64.2857 | |
| DEMA (21): | 22.8701 | |
| Parabolic SAR (0,02-0,02-0,2): | 23.0482 | |
| Elder Ray (13): | -0.0780 | |
| Super Trend (3,10): | 22.9643 | |
| Zig ZAG (10): | 22.7858 | |
| VORTEX (21): | 0.9512 | |
| Stochastique (14,3,5): | 5.40 | |
| TEMA (21): | 22.8728 | |
| Williams %R (14): | -98.13 | |
| Chande Momentum Oscillator (20): | -0.1268 | |
| Repulse (5,40,3): | -0.4774 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0025 | |
| Courbe Coppock: | 0.19 |
| MA7: | 23.1516 | |
| MA20: | 23.5596 | |
| MA50: | 23.4477 | |
| MA100: | 23.6855 | |
| MAexp7: | 22.8537 | |
| MAexp20: | 22.8837 | |
| MAexp50: | 22.9245 | |
| MAexp100: | 23.0507 | |
| Price / MA7: | -1.51% | |
| Price / MA20: | -3.21% | |
| Price / MA50: | -2.75% | |
| Price / MA100: | -3.73% | |
| Price / MAexp7: | -0.22% | |
| Price / MAexp20: | -0.35% | |
| Price / MAexp50: | -0.53% | |
| Price / MAexp100: | -1.07% |
Quotes :
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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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