GBP/ZAR may rise 1635 - 2335 pips

Our pivot point stands at 23.02.

Our preference

As long as 23.02 is support look for 23.38.

Alternative scenario

Below 23.02, expect 22.90 and 22.83.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 23.14 and 23.10).

Supports and resistances

23.52 **

23.45 *

23.38 **

23.31

23.14 last

23.07

23.02 **

22.90 *

22.83 **

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