GBP/ZAR - 1H - Technical analysis published on 12/13/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Strongly bearish
Technical indicators
17%
39%
44%
My opinion
Bearish under 22.5836 ZAR
My targets
22.4677 ZAR (-0.0727)
22.0738 ZAR (-0.4666)
My analysis
With a strongly bearish trend, the price of GBP/ZAR is trying to inflate a little while more or less stagnating in the short term. Is the price preparing for a rebound or a bearish rally recovery? Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 22.5836 ZAR remains possible. It would be possible for traders to only trade short positions (for sale) on GBP/ZAR as long as the price remains well below 22.5836 ZAR. The next bearish objective for sellers is set at 22.4677 ZAR. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 22.0738 ZAR. In case of crossing, the next objective would be the support located at 21.7195 ZAR.
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
5
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GBP/ZAR price is 22.5404 ZAR. The price registered a decrease of -0.02% on the session and was between 22.5249 ZAR and 22.5583 ZAR. This implies that the price is at +0.07% from its lowest and at -0.08% from its highest.22.5249
22.5583
22.5404
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
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 a overall strongly bearish trend. 82.14% of the signals given by moving averages are bearish. Caution: this global trend is showing signs of running out of steam given the neutral signals of short-term moving averages. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:
Bullish trend reversal : Moving Average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 1 hour
In fact, according to the parameters integrated into the Central Analyzer system, only 7 technical indicators out of 18 analysed are currently bearish. Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
Price is back over the pivot point
Type : Bullish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near horizontal resistance
Type : Bearish
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:
Bullish engulfing lines
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 20.5076 | 21.7195 | 22.4677 | 22.5404 | 22.5836 | 22.7133 | 22.8334 |
| Change (%) | -9.02% | -3.64% | -0.32% | - | +0.19% | +0.77% | +1.30% |
| Change | -2.0328 | -0.8209 | -0.0727 | - | +0.0432 | +0.1729 | +0.2930 |
| Level | Minor | Intermediate | Major | - | Intermediate | Major | 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 |
|---|---|---|---|---|---|---|---|
| Standard | 22.3227 | 22.3913 | 22.4676 | 22.5362 | 22.6125 | 22.6811 | 22.7574 |
| Camarilla | 22.5042 | 22.5174 | 22.5307 | 22.5440 | 22.5573 | 22.5706 | 22.5839 |
| Woodie | 22.3267 | 22.3932 | 22.4716 | 22.5381 | 22.6165 | 22.6830 | 22.7614 |
| Fibonacci | 22.3913 | 22.4466 | 22.4808 | 22.5362 | 22.5915 | 22.6257 | 22.6811 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 22.6082 | 22.7436 | 22.8622 | 22.9976 | 23.1162 | 23.2516 | 23.3702 |
| Camarilla | 22.9111 | 22.9343 | 22.9576 | 22.9809 | 23.0042 | 23.0275 | 23.0508 |
| Woodie | 22.5999 | 22.7394 | 22.8539 | 22.9934 | 23.1079 | 23.2474 | 23.3619 |
| Fibonacci | 22.7436 | 22.8406 | 22.9005 | 22.9976 | 23.0946 | 23.1545 | 23.2516 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 21.7117 | 22.0738 | 22.5277 | 22.8898 | 23.3437 | 23.7058 | 24.1597 |
| Camarilla | 22.7571 | 22.8319 | 22.9067 | 22.9815 | 23.0563 | 23.1311 | 23.2059 |
| Woodie | 21.7575 | 22.0968 | 22.5735 | 22.9128 | 23.3895 | 23.7288 | 24.2055 |
| Fibonacci | 22.0738 | 22.3856 | 22.5781 | 22.8898 | 23.2016 | 23.3941 | 23.7058 |
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): | 41.46 | |
| MACD (12,26,9): | -0.0116 | |
| Directional Movement: | -5.4530 | |
| AROON (14): | -64.2857 | |
| DEMA (21): | 22.5309 | |
| Parabolic SAR (0,02-0,02-0,2): | 22.5155 | |
| Elder Ray (13): | -0.0090 | |
| Super Trend (3,10): | 22.5989 | |
| Zig ZAG (10): | 22.5283 | |
| VORTEX (21): | 0.9857 | |
| Stochastique (14,3,5): | 41.73 | |
| TEMA (21): | 22.5438 | |
| Williams %R (14): | -75.67 | |
| Chande Momentum Oscillator (20): | -0.0419 | |
| Repulse (5,40,3): | -0.0650 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0093 | |
| Courbe Coppock: | 0.07 |
| MA7: | 22.7271 | |
| MA20: | 22.8357 | |
| MA50: | 22.8697 | |
| MA100: | 23.0838 | |
| MAexp7: | 22.5420 | |
| MAexp20: | 22.5493 | |
| MAexp50: | 22.5941 | |
| MAexp100: | 22.6738 | |
| Price / MA7: | -0.82% | |
| Price / MA20: | -1.29% | |
| Price / MA50: | -1.44% | |
| Price / MA100: | -2.35% | |
| Price / MAexp7: | -0.01% | |
| Price / MAexp20: | -0.04% | |
| Price / MAexp50: | -0.24% | |
| Price / MAexp100: | -0.59% |
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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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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