Today's ZAR to GBP Price Update

Summary

This report provides the real-time exchange rate between the South African Rand (ZAR) and British Pound (GBP), helping traders quickly grasp market dynamics and identify potential trading opportunities.

Definition

The British Pound (GBP) is one of the world’s major fiat currencies, while the South African Rand (ZAR) represents the currency of Africa’s largest economy. The exchange rate between them reflects market sentiment regarding the relative strength of these two currencies and their respective economic conditions.

Today’s Price

• 1 ZAR = 0.0466 GBP
• 24h High: 0.046656 GBP
• 24h Low: 0.046529 GBP

Market Analysis

The ZAR/GBP pair is currently showing mixed technical signals, with conflicting indicators across different timeframes.

• Technical levels: Key support identified at 21.63, with resistance levels at 21.76, 21.79, and 21.83 (in the inverse GBP/ZAR pair)
• Technical Indicators: The 14-day RSI for ZAR/GBP stands at 62.683, suggesting a buy signal. However, broader technical analysis shows strong sell signals on the 1-week and 1-month ratings
• Risk note: Conflicting signals between short-term and long-term technical indicators suggest heightened volatility; traders should exercise caution and employ proper risk management

Conclusion

Continue monitoring the ZAR/GBP pair closely, paying particular attention to technical support and resistance levels. Traders should reconcile conflicting technical signals before committing to positions and remain vigilant for potential trend reversals.