Dont like trading Zar but this looks too good of an opp to miss
GBP has been in a strong downtrend all year. Broke a long lasting trend line at 18.35 which is just under 38.2 fibs level Price is testing 61.8 Fibs on Daily and 17.26 PRZ tested on Aug 18th 2018 & 4th Feb 2019 is a long standing support - major/minor ? 2:2 pattern would price go to 17.04 @ 78.6 Fibs
GBP has been in a strong downtrend all year. Broke a long lasting trend line at 18.35 which is just under 38.2 fibs level Price is testing 61.8 Fibs on Daily and 17.26 PRZ tested on Aug 18th 2018 & 4th Feb 2019 is a long standing support - major/minor ? 2:2 pattern would price go to 17.04 @ 78.6 Fibs Long term short Short term buy
Looking for a bounce @ support and close above support prior to taking a long position
OANDA:GBPZAR Trading inside perfect symmetrical triangle. Watch for break out.
Im Expecting price to push a little higher to touch our trendline where our support will becoming our restistance. Once price is there we could be looking for a good sell entry that give us some nice pips. ofcourse we talking here about a nice swingtrade. lets wait and see how this one will play out.
my favorite pattern. reversal head&shoulders on gbpzar unemployment numbers for south Africa high again petrol also going up so we expect weak rand this coming weeks.
OANDA:GBPZAR Cup and handle in place. Wait for break higher.
we just found a technical model Triple Bottom-(bullish chart pattern used in technical analysis that's characterized by three equal lows) We think the price can reach the 200 moving average which is at 18.00 Buy GBP/ZAR Entry Price: 17.5710 Stop Loss: 174040 Take Profit: 18.00
pure trendline techs explains the gap made during asian today besides any fundamental factors looking to short on retest of this weeks high, no jump on pins as it may retest with you against you. lower time frame h1 h4 may present short opportunities.
Uk needs to recover well from Brexit in order for this to happen. Also, as mentioned, SA's economy will need to stay on the same downward spiral, in order for this pair to return to previous highs