thank you for your patience! I agree with John Paul, the letters are indeed Arabic letters on your pendant and translate into English:
Ma-sha-allah
Your pendant is an Islamic pendant.
The meaning is "glory to G_d," for example, if one was watching a spectacular sunset, one might say these words. This Islamic exclamation is commonly used in the Middle-East by all people not just religious people. You mention, you think it comes from Egypt and it most probably did come from Egypt or otherwise, one of the other arabic speaking countries. There are many arabic speaking countries; (around 22) arabic language as main language.
There is nothing that I can identify on the pendant, (looking at the images) however, that says, decidedly - "Egyptian". The "arrow" mark is puzzling and is not the gold mark for Egypt.
At first I thought the mark might be the Egyptian mark for platinum, but you say it tests gold and on closer inspection, and because of its hand-made appearance, I feel it could be an unregistered Jeweler's mark. The item is obviously handcrafted, unique and one-of-a-kind.
Thank you for sharing.
Best Wishes Yvonne Hammouda-Eyre
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Middle Eastern Pendant by: John Paul
Jo - Anna! hello there! This lovely pendant looks middle-eastern. These look like stylized arabic letters on the front of the round disc. It is not clear though from the photos if the metal is yellow or white colored metal? A very unique pendant at any rate which appears to be handmade. Regards John Paul