GBP/ZAR may rise 1159 - 1656 pips

Our pivot point stands at 22.87.

Our preference

As long as 22.87 is support look for 23.14.

Alternative scenario

Below 22.87, expect 22.78 and 22.73.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is below its 20 period moving average (22.98) but above its 50 period moving average (22.92).

Supports and resistances

23.24 **

23.19 *

23.14 **

23.09

22.97 last

22.90

22.87 **

22.78 *

22.73 **

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