olly_price
Long

GBPZAR potential for a big rally

FX_IDC:GBPZAR   POUND STERLING / RAND
Falling wedge with 5 hit points, approaching a 6th and final one for a strong breakout.

Excellent previous structure support (indicated by the horizontal black line) asking for a rebound into the upside. I think that this falling wedge will accentuate the rebound off the support line.

Major bullish divergence on the RSI occurring in the oversold region.

Profit targets are indicated by the horizontal green lines.
Comment: Despite the break below, I still expect break above the wedge due to the strong structure support.
Order cancelled
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