GBP/ZAR may rise to 24.4169 - 25.0033

Our pivot point stands at 22.34.

Our preference

Rebound towards 25.00.

Alternative scenario

Below 22.34, expect 21.36 and 20.77.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (23.15) but under its 50 period moving average (23.30).

Supports and resistances

26.18 **

25.59 *

25.00 **

24.42

23.16 last

22.72

22.34 **

21.36 *

20.77 **

Number of asterisks represents the strength of support and resistance levels.