GBP/ZAR

Credit rating fears are weighing on the Rand after a recent report by Moody's caused unease amongst investors.

The Pound to South African Rand is broadly in a sideways trend between about the 17.70 and 15.00 levels.

The South African Reserve Bank (SARB) cut interest rates by 0.25% at their rate meeting on Thursday and the Rand fell back.

The Pound to South African Rand is in a short-term uptrend since forming a low in June, which is forecast to continue in the week ahead.

At the start of the new trading week Sterling continues to rise versus the South African (SA) Rand reaching a new 2-month high of 17.58.

Buy Pound Sterling against the Rand say strategists at one of the world's largest investment banks.

The South African Rand weakened versus the Pound on Friday after emerging markets fell out of favour with investors, and political risks dominated the horizon.

The Pound to South African Rand is in a long-term downtrend as reflected by the fact that it is still trading under a major trendline. 

The Rand is falling against the Pound due to political and economic risks as the new trading week begins.

GBP/ZAR has traded in wide, volatile, daily ranges after political and economic development but what is the outlook for the week ahead?

Jacob Zuma’s survival at the helm of South African politics appears to have depressed the Rand at the start of the new trading week.

The South African Rand has recovered on the back of a rise in commodity prices over the last week which on GBP/ZAR has been reflected in a mini-downtrend which began after the May 8 peak.

The GBP/ZAR pair has broken above the key December highs at 17.35 in a strong bullish thrust higher.

GBP/ZAR shot up from its March lows on fears about the economy after South African president Jacob Zuma replaced his respected finance minister Pravin Gordhan with an inexperienced alternative.

The Pound to South African Rand has gapped down on Monday morning due to market relief at the outcome of the first round of the French presidential election, however, it is tipped to recover my market technicians.

The Rand is one of the strongest currencies against the Pound in a landscape otherwise dominated by Sterling strength at the expensive of counterparts.

The Pound to South African Rand has fallen to the 16.70s -  below the target of 16.80 we stipulated in our midweek review, there is still a chance the pair may rebound higher again.

GBP/ZAR has formed a short-term top and is currently breaking lower.

The Pound to South African Rand exchange rate has temporarily spiked higher to to political risks and it remains constructive from a technical perspective, with more gains expected on the horizon.