GBP/INR may rise 360 - 537 pips

109.553 is our pivot point.

Our preference

The upside prevails as long as 109.553 is support.

Alternative scenario

Below 109.553, expect 109.255 and 109.078.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 109.762 and 109.808).

Supports and resistances

110.722 **

110.544 *

110.367 **

110.190

109.830 last

109.670

109.553 **

109.255 *

109.078 **

Number of asterisks represents the strength of support and resistance levels.