GBP/ZAR may rise 1289 - 1914 pips

Our pivot point is at 23.12.

Our preference

Rebound towards 23.45.

Alternative scenario

Below 23.12, expect 23.02 and 22.96.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 23.27 and 23.31).

Supports and resistances

23.57 **

23.51 *

23.45 **

23.38

23.25 last

23.16

23.12 **

23.02 *

22.96 **

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