GBP/ZAR - 1H - Technical analysis published on 04/12/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
39%
28%
33%
My opinion
Bearish under 23.5674 ZAR
My targets
23.4193 ZAR (-0.0716)
23.3546 ZAR (-0.1363)
My analysis
GBP/ZAR is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 23.5674 ZAR. The next support located at 23.4193 ZAR is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 23.3546 ZAR. Below this support, sellers could then target 23.1426 ZAR. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
5.4
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.
This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GBP/ZAR rating is 23.4909 ZAR. On the day, this instrument lost -0.04% with the lowest point at 23.3499 ZAR and the highest point at 23.5945 ZAR. The deviation from the price is +0.60% for the low point and -0.44% for the high point.23.3499
23.5945
23.4909
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
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 (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
New LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of GBP/ZAR in 1H shows a overall strongly bearish trend. The signals given by moving averages are 89.29% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting several bearish signals that could impact this trend:
Bearish trend reversal : Moving Average 50
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with Moving Average 100
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 50
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 100
Type : Bearish
Timeframe : 1 hour
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Central Indicators, the scanner specialised in technical indicators, has identified these signals:
RSI indicator is back under 50
Type : Bearish
Timeframe : 1 hour
Ichimoku : price is under the cloud
Type : Bearish
Timeframe : 1 hour
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 resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:
Bearish engulfing lines
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 23.3546 | 23.4193 | 23.4725 | 23.4909 | 23.5111 | 23.5674 | 23.6732 |
| Change (%) | -0.58% | -0.30% | -0.08% | - | +0.09% | +0.33% | +0.78% |
| Change | -0.1363 | -0.0716 | -0.0184 | - | +0.0202 | +0.0765 | +0.1823 |
| Level | Intermediate | Minor | Minor | - | Minor | Intermediate | 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 | 23.2459 | 23.3542 | 23.4276 | 23.5359 | 23.6093 | 23.7176 | 23.7910 |
| Camarilla | 23.4511 | 23.4678 | 23.4844 | 23.5011 | 23.5178 | 23.5344 | 23.5511 |
| Woodie | 23.2286 | 23.3455 | 23.4103 | 23.5272 | 23.5920 | 23.7089 | 23.7737 |
| Fibonacci | 23.3542 | 23.4236 | 23.4665 | 23.5359 | 23.6053 | 23.6482 | 23.7176 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 22.8474 | 23.1600 | 23.3990 | 23.7116 | 23.9506 | 24.2632 | 24.5022 |
| Camarilla | 23.4864 | 23.5370 | 23.5875 | 23.6381 | 23.6887 | 23.7392 | 23.7898 |
| Woodie | 22.8107 | 23.1416 | 23.3623 | 23.6932 | 23.9139 | 24.2448 | 24.4655 |
| Fibonacci | 23.1600 | 23.3707 | 23.5009 | 23.7116 | 23.9223 | 24.0525 | 24.2632 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 22.9390 | 23.3200 | 23.5486 | 23.9296 | 24.1582 | 24.5392 | 24.7678 |
| Camarilla | 23.6095 | 23.6653 | 23.7212 | 23.7771 | 23.8330 | 23.8889 | 23.9447 |
| Woodie | 22.8627 | 23.2819 | 23.4723 | 23.8915 | 24.0819 | 24.5011 | 24.6915 |
| Fibonacci | 23.3200 | 23.5529 | 23.6968 | 23.9296 | 24.1625 | 24.3064 | 24.5392 |
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): | 48.55 | |
| MACD (12,26,9): | 0.0030 | |
| Directional Movement: | -2.8460 | |
| AROON (14): | 42.8572 | |
| DEMA (21): | 23.5037 | |
| Parabolic SAR (0,02-0,02-0,2): | 23.4332 | |
| Elder Ray (13): | -0.0068 | |
| Super Trend (3,10): | 23.5918 | |
| Zig ZAG (10): | 23.4909 | |
| VORTEX (21): | 0.9894 | |
| Stochastique (14,3,5): | 64.51 | |
| TEMA (21): | 23.5107 | |
| Williams %R (14): | -42.35 | |
| Chande Momentum Oscillator (20): | 0.0208 | |
| Repulse (5,40,3): | -0.1600 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0022 | |
| Courbe Coppock: | 0.27 |
| MA7: | 23.5444 | |
| MA20: | 23.7565 | |
| MA50: | 23.9156 | |
| MA100: | 23.8261 | |
| MAexp7: | 23.5105 | |
| MAexp20: | 23.5028 | |
| MAexp50: | 23.5050 | |
| MAexp100: | 23.5196 | |
| Price / MA7: | -0.23% | |
| Price / MA20: | -1.12% | |
| Price / MA50: | -1.78% | |
| Price / MA100: | -1.41% | |
| Price / MAexp7: | -0.08% | |
| Price / MAexp20: | -0.05% | |
| Price / MAexp50: | -0.06% | |
| Price / MAexp100: | -0.12% |
Quotes :
-
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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