GBP/ZAR may fall to 22.1895 - 22.5411

Our pivot point stands at 23.84.

Our preference

The downside prevails as long as 23.84 is resistance.

Alternative scenario

Above 23.84, look for 24.44 and 24.79.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 23.48 and 23.38).

Supports and resistances

24.79 **

24.44 *

23.84 **

23.61

23.29 last

22.54

22.19 **

21.84 *

21.49 **

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