Currency pair GBPZAR represent the trading instrument in the Forex market, which reflects interrelation of the British pound and South African Rand. In this currency pair the British pound is the base currency and the South African Rand — quoted. Quotes of GBPZAR pair are subject to the influence of various factors, it can be an important political events, the prices of precious metals, the interest rate of bank of England. The big activity of the trading on this currency tool can be observed in working hours of the European and South African exchanges.
for the current setup 18.70 level must not be broken as a T junction, otherwise the count is wrong.
The Republic of South Africa is one of the richest countries of the African continent as in the country are found huge deposits of minerals. The national economy is based on production and export of minerals.
The South African Rand is considered rather popular currency in a row with many widespread currencies of the world on which are made the greatest number of trading activities. GBPZAR pair is characterized by high volatility and wide spread. In addition, to all above-mentioned, the Republic of South Africa can be called the largest producer of cars the most part from which is directed on export.