GBP/ZAR may rise 1325 - 1838 pips

22.92 is our pivot point.

Our preference

The upside prevails as long as 22.92 is support.

Alternative scenario

Below 22.92, expect 22.84 and 22.79.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 22.94 and 22.92).

Supports and resistances

23.31 **

23.26 *

23.20 **

23.15

23.02 last

22.96

22.92 **

22.84 *

22.79 **

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