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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 07/18/2024 (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 bullish
Underlying: Strongly bullish
Technical indicators
50%
22%
28%
My opinion
Bullish above 23.5741 ZAR
My targets
23.7818 ZAR (+0.0987)
23.9579 ZAR (+0.2748)
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 23.5741 ZAR. The buyers' bullish objective is set at 23.7818 ZAR. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 23.9579 ZAR. If there is any crossing, the next objective would be the resistance located at 24.2611 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 are indecisive in the very short term but do not change the general bullish opinion of this analysis.
Force
0
10
7

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 23.6831 ZAR. The price registered a decrease of -0.03% on the session and was traded between 23.5656 ZAR and 23.6969 ZAR over the period. The price is currently at +0.50% from its lowest and -0.06% from its highest.

23.5656
23.6969
23.6831

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 for higher/lower results shows the following items:

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 LOW record (1st january)

Type : Bearish

Timeframe : Weekly


Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly



Technical


Technical analysis of this 1H chart of GBP/ZAR indicates that the overall trend is strongly bullish. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. An assessment of moving averages reveals several bullish signals that could impact this trend:

Central Indicators

Bullish price crossover with Moving Average 20

Type : Bullish

Timeframe : 1 hour


Bullish price crossover with adaptative moving average 20

Type : Bullish

Timeframe : 1 hour



In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 9 are bullish, 5 are neutral and 4 are bearish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Central Indicators

Pivot points : price is over resistance 2

Type : Neutral

Timeframe : Weekly


RSI indicator is back over 50

Type : Bullish

Timeframe : 1 hour


Parabolic SAR indicator bullish reversal

Type : Bullish

Timeframe : 1 hour


Price is back over the pivot point

Type : Bullish

Timeframe : 1 hour


Williams %R indicator is back over -50

Type : Bullish

Timeframe : 1 hour



The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:

Central Patterns

Near horizontal support

Type : Bullish

Timeframe : 1 hour


Support of channel is broken

Type : Bearish

Timeframe : 1 hour



The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.


ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 23.3290 23.3932 23.5741 23.6831 23.6853 23.7818 23.9579
Change (%) -1.50% -1.22% -0.46% - +0.01% +0.42% +1.16%
Change -0.3541 -0.2899 -0.1090 - +0.0022 +0.0987 +0.2748
Level Intermediate Minor Minor - Minor Intermediate Intermediate



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
Standard23.112623.255423.473223.616023.833823.976624.1944
Camarilla23.591823.624923.658023.691023.724123.757123.7902
Woodie23.150123.274223.510723.634823.871323.995424.2319
Fibonacci23.255423.393223.478323.616023.753823.838923.9766


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard22.861622.981823.150723.270923.439823.560023.7289
Camarilla23.240023.266523.293023.319523.346023.372523.3990
Woodie22.885922.994023.175023.283123.464123.572223.7532
Fibonacci22.981823.092323.160523.270923.381423.449623.5600


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard20.558921.566622.289323.297024.019725.027425.7501
Camarilla22.536222.694922.853523.012123.170723.329323.4880
Woodie20.416521.495422.146923.225823.877324.956225.6077
Fibonacci21.566622.227622.636023.297023.958024.366425.0274

Numerical data


The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:

Technical indicators
Moving averages

RSI (14): 57.82
MACD (12,26,9): 0.0119
Directional Movement: 1.5608
AROON (14): -71.4286
DEMA (21): 23.6654
Parabolic SAR (0,02-0,02-0,2): 23.5656
Elder Ray (13): 0.0015
Super Trend (3,10): 23.5631
Zig ZAG (10): 23.6657
VORTEX (21): 0.9352
Stochastique (14,3,5): 47.32
TEMA (21): 23.6478
Williams %R (14): -22.81
Chande Momentum Oscillator (20): -0.0237
Repulse (5,40,3): 0.1517
ROCnROLL: 1
TRIX (15,9): 0.0159
Courbe Coppock: 0.49
MA7: 23.4620
MA20: 23.2839
MA50: 23.3629
MA100: 23.5345
MAexp7: 23.6402
MAexp20: 23.6451
MAexp50: 23.5979
MAexp100: 23.5273
Price / MA7: +0.94%
Price / MA20: +1.71%
Price / MA50: +1.37%
Price / MA100: +0.63%
Price / MAexp7: +0.18%
Price / MAexp20: +0.16%
Price / MAexp50: +0.36%
Price / MAexp100: +0.66%

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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