British Pound / South African Rand forum
GBPZAR If the market wants to fill this gap back to demand we could be looking at a good buy opportunity
GBPZAR The British Pound strengthens against the rand, trading above 24.00 once again. Similar to USD/ZAR, it is also trading above the 200 SMA and approaching the February swing high of 24.59.However, caution is advised as the RSI indicator suggests a potential pullback due to previous instances of oversold conditions. Considering the ongoing coalition talks, a negative outcome could lead to further depreciation of the rand. Resistance is at 24.59 and support is around 23.54 (200 SMA).
GBPZAR Idea:Elite Trading Insights 18 | Mr… Elite Trading Insights 18 | Mr. Olympia Gods of chart analysis