GBP/ZAR may rise to 23.8076 - 24.1196

Our pivot point stands at 22.64.

Our preference

Rebound towards 24.12.

Alternative scenario

Below 22.64, expect 22.12 and 21.81.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 23.24 and 23.53).

Supports and resistances

24.74 **

24.43 *

24.12 **

23.81

23.12 last

22.84

22.64 **

22.12 *

21.81 **

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