GBP/ZAR - Daily - Technical analysis published on 09/12/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Neutral
Technical indicators
28%
50%
22%
My opinion
Bearish under 24.1493 ZAR
My targets
23.2072 ZAR (-0.4142)
22.6326 ZAR (-0.9888)
My analysis
The current short-term bearish trend is expected to quickly fix the basic bearish trend. To avoid contradicting the short term, it would be possible to favour short positions (for sale) for GBP/ZAR as long as the price remains well below 24.1493 ZAR. The sellers' bearish objective is set at 23.2072 ZAR. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 22.6326 ZAR. If there is any crossing, the next objective would be the support located at 21.7195 ZAR.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
2.1
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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 23.6214 ZAR. On the day, this instrument lost -0.01% and was traded between 23.5189 ZAR and 23.7366 ZAR over the period. The price is currently at +0.44% from its lowest and -0.49% from its highest.23.5189
23.7366
23.6214
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by GBP/ZAR:
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 HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in Daily of this GBP/ZAR chart shows a neutral trend. The trend could quickly turn bearish due to the strong bearish signals currently being given by short-term moving averages. The Central Indicators scanner detects bearish signals on moving averages that could impact this trend:
Bearish trend reversal : adaptative moving average 20
Type : Bearish
Timeframe : Daily
Bearish trend reversal : adaptative moving average 50
Type : Bearish
Timeframe : Daily
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : Daily
Ichimoku - Bullish crossover : Tenkan & Kijun
Type : Bullish
Timeframe : Daily
Momentum indicator is back over 0
Type : Bullish
Timeframe : Daily
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal support
Type : Bullish
Timeframe : Daily
Near support of channel
Type : Bullish
Timeframe : Daily
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 22.6326 | 23.2072 | 23.6066 | 23.6214 | 24.1493 | 24.5070 |
| Change (%) | -4.19% | -1.75% | -0.06% | - | +2.23% | +3.75% |
| Change | -0.9888 | -0.4142 | -0.0148 | - | +0.5279 | +0.8856 |
| Level | Intermediate | Intermediate | Major | - | Minor | Major |
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 |
|---|---|---|---|---|---|---|---|
| Standard | 23.2304 | 23.4060 | 23.5153 | 23.6909 | 23.8002 | 23.9758 | 24.0851 |
| Camarilla | 23.5462 | 23.5723 | 23.5984 | 23.6245 | 23.6506 | 23.6767 | 23.7029 |
| Woodie | 23.1972 | 23.3894 | 23.4821 | 23.6743 | 23.7670 | 23.9592 | 24.0519 |
| Fibonacci | 23.4060 | 23.5149 | 23.5821 | 23.6909 | 23.7998 | 23.8670 | 23.9758 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 22.9140 | 23.2714 | 23.5625 | 23.9199 | 24.2110 | 24.5684 | 24.8595 |
| Camarilla | 23.6752 | 23.7346 | 23.7941 | 23.8535 | 23.9130 | 23.9724 | 24.0318 |
| Woodie | 22.8808 | 23.2548 | 23.5293 | 23.9033 | 24.1778 | 24.5518 | 24.8263 |
| Fibonacci | 23.2714 | 23.5192 | 23.6722 | 23.9199 | 24.1677 | 24.3207 | 24.5684 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 21.4692 | 22.1930 | 23.0494 | 23.7732 | 24.6296 | 25.3534 | 26.2098 |
| Camarilla | 23.4714 | 23.6162 | 23.7611 | 23.9059 | 24.0508 | 24.1956 | 24.3405 |
| Woodie | 21.5356 | 22.2262 | 23.1158 | 23.8064 | 24.6960 | 25.3866 | 26.2762 |
| Fibonacci | 22.1930 | 22.7966 | 23.1695 | 23.7732 | 24.3768 | 24.7497 | 25.3534 |
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): | 46.37 | |
| MACD (12,26,9): | 0.0162 | |
| Directional Movement: | -2.8527 | |
| AROON (14): | 42.8572 | |
| DEMA (21): | 23.8449 | |
| Parabolic SAR (0,02-0,02-0,2): | 24.2774 | |
| Elder Ray (13): | -0.1818 | |
| Super Trend (3,10): | 24.2550 | |
| Zig ZAG (10): | 23.6369 | |
| VORTEX (21): | 0.9215 | |
| Stochastique (14,3,5): | 43.64 | |
| TEMA (21): | 23.8070 | |
| Williams %R (14): | -63.07 | |
| Chande Momentum Oscillator (20): | 0.2089 | |
| Repulse (5,40,3): | -0.8958 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0317 | |
| Courbe Coppock: | 0.61 |
| MA7: | 23.8962 | |
| MA20: | 23.8591 | |
| MA50: | 23.6801 | |
| MA100: | 23.6781 | |
| MAexp7: | 23.7832 | |
| MAexp20: | 23.8055 | |
| MAexp50: | 23.7178 | |
| MAexp100: | 23.4480 | |
| Price / MA7: | -1.15% | |
| Price / MA20: | -1.00% | |
| Price / MA50: | -0.25% | |
| Price / MA100: | -0.24% | |
| Price / MAexp7: | -0.68% | |
| Price / MAexp20: | -0.77% | |
| Price / MAexp50: | -0.41% | |
| Price / MAexp100: | +0.74% |
Quotes :
-
Real time data
-
Forex
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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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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