GBP/ZAR may rise to 24.7837 - 25.3355

Our pivot point stands at 22.78.

Our preference

The upside prevails as long as 22.78 is support.

Alternative scenario

The downside breakout of 22.78 would call for 21.86 and 21.31.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 23.18 and 23.32).

Supports and resistances

26.44 **

25.89 *

25.34 **

24.78

23.51 last

23.14

22.78 **

21.86 *

21.31 **

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