GBP/ZAR may fall to 21.6344 - 22.0859

Our pivot point is at 23.82.

Our preference

The downside prevails as long as 23.82 is resistance.

Alternative scenario

Above 23.82, look for 24.59 and 25.04.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 23.58 and 23.45).

Supports and resistances

25.04 **

24.59 *

23.82 **

23.52

23.04 last

22.09

21.63 **

21.18 *

20.73 **

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