GBP/ZARShort
STERLING/RAND GBP/ZAR H2: Approaching Resistance
Here's why it's a potentially good selling opportunity:
- the well-established downtrend,
- likely support at: 1) the potential supply level (the last swing high), 2) 100% size of the prior correction,
- a perfect match of the strong South African rand and the weak British pound, currently the former oversold and the latter overbought.
- the well-established downtrend,
- likely support at: 1) the potential supply level (the last swing high), 2) 100% size of the prior correction,
- a perfect match of the strong South African rand and the weak British pound, currently the former oversold and the latter overbought.
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