Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.sacoronavirus.co.za.

bs-regular
bs-extra-light
bs-light
bs-light
bs-cond-light-webfont
bs-medium
bs-bold
bs-black

Community


Share knowledge. Ask questions. Find answers.

Online Share Trading

Engage and learn about markets and trading online

Ready to run!?!

Reply
THRESHOLD
Super Contributor
Looks ready to break out of this range to the upside in the UK. Which makes sense given the ZAR/GBP action.
0 Kudos
Reply
7 REPLIES 7
Russ
Super Contributor
I have been expecting a short-term rally in the gbp-zar but it just hasn't come-yet.
0 Kudos
Reply
THRESHOLD
Super Contributor
You know my take on this by now.. it will run when you last expect it to!
0 Kudos
Reply
THRESHOLD
Super Contributor
0 Kudos
Reply
Russ
Super Contributor
At R16.75 the gbp-zar has broken down from a massive head and shoulders (the neckline was at about 17.00) which has formed over the last couple of years. If it plays out it could eventually end up at about R10.00, a place we haven't been since Jan 2011 and where there is a massive support line.I still think we are due for a relief rally. After that it is anyone 's guess how far it could fall!
0 Kudos
Reply
THRESHOLD
Super Contributor
If that were to happen - our economy would tank... they could pretty much turn off the lights! That would set the stage for a complete Rand collapse so...
0 Kudos
Reply
THRESHOLD
Super Contributor
Unless, of course, it was due to GBP specific weakness and the ZAR went nowhere against any other currencies. I just don't see that however. I must admit that I think the EURO is looking very flaccid at this point though.
0 Kudos
Reply
Russ
Super Contributor
This little rally might just be the goodbye kiss but wouldn't surprise me if it gets a little above R17.
0 Kudos
Reply