GBP/ZAR Daily chart
We currently trading at previous year low price area and current holding swing low area @ 22. 47286, This price area has not been tested before by price and it is the low of the HTF consolidation phase price is within. Now we need to consider the prices of GOLD as they greatly affect the strength of the rand. The rand has a positive relation with GOLD. A drop in gold will cause a drop in the rand.
We are expecting price to rise toward the midpoint of the consolidation phase at 23. 47460.
We currently trading at previous year low price area and current holding swing low area @ 22. 47286, This price area has not been tested before by price and it is the low of the HTF consolidation phase price is within. Now we need to consider the prices of GOLD as they greatly affect the strength of the rand. The rand has a positive relation with GOLD. A drop in gold will cause a drop in the rand.
We are expecting price to rise toward the midpoint of the consolidation phase at 23. 47460.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.