GBP/ZAR may rise 963 - 1433 pips

Our pivot point stands at 22.76.

Our preference

Rebound towards 23.00.

Alternative scenario

Below 22.76, expect 22.68 and 22.63.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 22.86 and 22.94).

Supports and resistances

23.09 **

23.05 *

23.00 **

22.95

22.86 last

22.79

22.76 **

22.68 *

22.63 **

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