GBP/ZAR may rise 999 - 1494 pips

22.79 is our pivot point.

Our preference

Rebound towards 23.06.

Alternative scenario

Below 22.79, expect 22.71 and 22.66.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands above its 20 period moving average (22.90) but below its 50 period moving average (22.93).

Supports and resistances

23.16 **

23.11 *

23.06 **

23.01

22.91 last

22.82

22.79 **

22.71 *

22.66 **

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