GBP/ZAR - 1H - Technical analysis published on 01/27/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
44%
22%
33%
My opinion
Bullish above 21.2651 ZAR
My targets
21.3510 ZAR (+0.0309)
21.4275 ZAR (+0.1074)
My analysis
The basic bullish trend is very strong on GBP/ZAR but the short term shows some signs of running out of steam. However, a purchase could be considered as long as the price remains above 21.2651 ZAR. Crossing the first resistance at 21.3510 ZAR would be a sign of a potential new surge in the price. Buyers would then use the next resistance located at 21.4275 ZAR as an objective. Crossing it would then enable buyers to target 21.7215 ZAR. Caution, a return to below 21.2651 ZAR would be a sign of a consolidation phase in the short-term basic trend. 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, technical indicators are indecisive, but do not change the general bullish opinion of this analysis.
Force
0
10
6.1
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Additional analysis
Quotes
The GBP/ZAR price is 21.3201 ZAR. The price is lower by -0.01% since the last closing with the lowest point at 21.2462 ZAR and the highest point at 21.3733 ZAR. The deviation from the price is +0.35% for the low point and -0.25% for the high point.21.2462
21.3733
21.3201
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum 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 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 GBP/ZAR in 1H shows a strongly overall bullish trend. 89.29% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages indicate this trend is showing signs of running out of steam. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
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: 8 are bullish, 6 are neutral and 4 are bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
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:
Near support of channel
Type : Bullish
Timeframe : 1 hour
For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:
Bullish engulfing lines
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 20.8598 | 21.0744 | 21.2651 | 21.3201 | 21.3510 | 21.4275 | 21.7215 |
| Change (%) | -2.16% | -1.15% | -0.26% | - | +0.14% | +0.50% | +1.88% |
| Change | -0.4603 | -0.2457 | -0.0550 | - | +0.0309 | +0.1074 | +0.4014 |
| Level | Minor | Intermediate | Intermediate | - | Minor | Intermediate | 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 |
|---|---|---|---|---|---|---|---|
| Standard | 20.8668 | 20.9695 | 21.1456 | 21.2483 | 21.4244 | 21.5271 | 21.7032 |
| Camarilla | 21.2450 | 21.2706 | 21.2961 | 21.3217 | 21.3473 | 21.3728 | 21.3984 |
| Woodie | 20.9035 | 20.9879 | 21.1823 | 21.2667 | 21.4611 | 21.5455 | 21.7399 |
| Fibonacci | 20.9695 | 21.0760 | 21.1418 | 21.2483 | 21.3548 | 21.4206 | 21.5271 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 19.7396 | 20.1392 | 20.6803 | 21.0799 | 21.6210 | 22.0206 | 22.5617 |
| Camarilla | 20.9627 | 21.0489 | 21.1352 | 21.2214 | 21.3076 | 21.3939 | 21.4801 |
| Woodie | 19.8104 | 20.1746 | 20.7511 | 21.1153 | 21.6918 | 22.0560 | 22.6325 |
| Fibonacci | 20.1392 | 20.4986 | 20.7206 | 21.0799 | 21.4393 | 21.6613 | 22.0206 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 18.3904 | 19.3704 | 19.9769 | 20.9569 | 21.5634 | 22.5434 | 23.1499 |
| Camarilla | 20.1471 | 20.2925 | 20.4380 | 20.5834 | 20.7288 | 20.8743 | 21.0197 |
| Woodie | 18.2037 | 19.2770 | 19.7902 | 20.8635 | 21.3767 | 22.4500 | 22.9632 |
| Fibonacci | 19.3704 | 19.9764 | 20.3509 | 20.9569 | 21.5629 | 21.9374 | 22.5434 |
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): | 52.33 | |
| MACD (12,26,9): | 0.0026 | |
| Directional Movement: | 1.6943 | |
| AROON (14): | -21.4286 | |
| DEMA (21): | 21.3085 | |
| Parabolic SAR (0,02-0,02-0,2): | 21.3439 | |
| Elder Ray (13): | -0.0128 | |
| Super Trend (3,10): | 21.2233 | |
| Zig ZAG (10): | 21.3117 | |
| VORTEX (21): | 0.9427 | |
| Stochastique (14,3,5): | 32.81 | |
| TEMA (21): | 21.2962 | |
| Williams %R (14): | -48.47 | |
| Chande Momentum Oscillator (20): | -0.0435 | |
| Repulse (5,40,3): | 0.2021 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0072 | |
| Courbe Coppock: | 0.42 |
| MA7: | 21.2880 | |
| MA20: | 20.8624 | |
| MA50: | 20.8834 | |
| MA100: | 20.5991 | |
| MAexp7: | 21.2957 | |
| MAexp20: | 21.2999 | |
| MAexp50: | 21.2808 | |
| MAexp100: | 21.2488 | |
| Price / MA7: | +0.15% | |
| Price / MA20: | +2.19% | |
| Price / MA50: | +2.09% | |
| Price / MA100: | +3.50% | |
| Price / MAexp7: | +0.11% | |
| Price / MAexp20: | +0.09% | |
| Price / MAexp50: | +0.18% | |
| Price / MAexp100: | +0.34% |
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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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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