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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 10/23/2024 (GMT)

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  • Timeframe : 1H
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Summary of the analysis

Trends
Short term: Strongly bullish
Underlying: Bullish
Technical indicators
94%
0%
6%
My opinion
Bullish above 23.0690 ZAR
My targets
23.3412 ZAR (+0.2279)
23.3932 ZAR (+0.2799)
My analysis
In the short term, there could be an acceleration of the basic bullish trend on GBP/ZAR. This is a positive signal for buyers. As long as the price remains above 23.0690 ZAR, a purchase could be considered. The first bullish objective is located at 23.3412 ZAR. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 23.3932 ZAR as an objective. Crossing it would then enable buyers to target 23.7667 ZAR. In the event of a return below 23.0690 ZAR, the price would probably only initiate a small short-term correction to improve the bullish trend. Trading this correction may be risky.

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
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

GBP/ZAR rating 23.1133 ZAR. The price has increased by +1.56% since the last closing with the lowest point at 22.7237 ZAR and the highest point at 23.1373 ZAR. The deviation from the price is +1.71% for the low point and -0.10% for the high point.

22.7237
23.1373
23.1133

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



A study of price movements over other periods shows the following variations:
The study of the highest / lowest by the Central Records scanner shows the following results:

Central Records

Near a new LOW record (1 year)

Type : Bearish

Timeframe : Weekly


Near a new LOW record (1st january)

Type : Bearish

Timeframe : Weekly


Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly



Technical


Technical analysis of GBP/ZAR in 1H shows an overall bullish trend. The signals returned by the moving averages are 71.43% bullish. This bullish trend is reinforced 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 trend reversal : Moving Average 100

Type : Bullish

Timeframe : 1 hour


Moving Average bullish crossovers : MA20 & MA50

Type : Bullish

Timeframe : 1 hour



In fact, 17 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:

Central Indicators

RSI indicator is overbought : over 70

Type : Neutral

Timeframe : 1 hour


CCI indicator is overbought : over 100

Type : Neutral

Timeframe : 1 hour


Previous candle closed over Bollinger bands

Type : Neutral

Timeframe : 1 hour


Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

Other results related to technical indicators were also found by the Central Indicators scanner:

Central Indicators

Pivot points : price is over resistance 3

Type : Neutral

Timeframe : 1 hour


Price is back over the pivot point

Type : Bullish

Timeframe : Weekly



The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:

Central Patterns

Resistance of channel is broken

Type : Bullish

Timeframe : 1 hour



The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.


ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 22.8888 23.0149 23.0690 23.1133 23.1194 23.3932 23.7667
Change (%) -0.97% -0.43% -0.19% - +0.03% +1.21% +2.83%
Change -0.2245 -0.0984 -0.0443 - +0.0061 +0.2799 +0.6534
Level Intermediate Intermediate Intermediate - Intermediate Minor Minor



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
Standard22.448722.566622.662522.780422.876322.994223.0901
Camarilla22.699522.719122.738722.758322.777922.797522.8171
Woodie22.437622.561122.651422.774922.865222.988723.0790
Fibonacci22.566622.648322.698822.780422.862122.912622.9942


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard22.322622.514222.736122.927723.149623.341223.5631
Camarilla22.844222.882122.920022.957922.995823.033723.0716
Woodie22.337722.521822.751222.935323.164723.348823.5782
Fibonacci22.514222.672222.769822.927723.085723.183323.3412


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard21.915922.359122.742823.186023.569724.012924.3966
Camarilla22.899222.975023.050823.126623.202423.278223.3540
Woodie21.886322.344222.713223.171123.540123.998024.3670
Fibonacci22.359122.674922.870123.186023.501823.697024.0129

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): 76.21
MACD (12,26,9): 0.0624
Directional Movement: 25.4644
AROON (14): 64.2857
DEMA (21): 22.9520
Parabolic SAR (0,02-0,02-0,2): 22.9125
Elder Ray (13): 0.1764
Super Trend (3,10): 22.9053
Zig ZAG (10): 23.1122
VORTEX (21): 1.2961
Stochastique (14,3,5): 93.14
TEMA (21): 23.0211
Williams %R (14): -6.19
Chande Momentum Oscillator (20): 0.3173
Repulse (5,40,3): 0.7063
ROCnROLL: 1
TRIX (15,9): 0.0129
Courbe Coppock: 1.82
MA7: 22.9551
MA20: 22.9595
MA50: 23.1731
MA100: 23.2814
MAexp7: 22.9948
MAexp20: 22.8898
MAexp50: 22.8637
MAexp100: 22.8850
Price / MA7: +0.69%
Price / MA20: +0.67%
Price / MA50: -0.26%
Price / MA100: -0.72%
Price / MAexp7: +0.52%
Price / MAexp20: +0.98%
Price / MAexp50: +1.09%
Price / MAexp100: +1.00%

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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