GBP/ZAR may rise to 24.1783 - 24.5402

Our pivot point is at 22.81.

Our preference

The upside prevails as long as 22.81 is support.

Alternative scenario

Below 22.81, expect 22.21 and 21.85.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 23.34 and 23.39).

Supports and resistances

25.26 **

24.90 *

24.54 **

24.18

23.45 last

23.05

22.81 **

22.21 *

21.85 **

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