March 17, 2021 - Written by David Woodsmith Since opening this week, the British Pound to South African Rand (GBP/ZAR) exchange rate has been trending with a downside bias. The South African Rand is attempting to sustain its recent gains as markets await central bank news, while the Pound’s recent rally has run out of steam for now. The pair has the potential to climb in the coming days if central bank news surprises investors, but otherwise the South African Rand could remain appealing if markets head for more risk-on movement. Last week saw a strong rebound in the South African Rand. GBP/ZAR opened last week at the level of 21.25 and briefly jumped to a high of 21.48 - the best level for the pair since October 2020.