GBP/PLN may rise 277 - 416 pips

Our pivot point is at 5.0594.

Our preference

The upside prevails as long as 5.0594 is support.

Alternative scenario

Below 5.0594, expect 5.0361 and 5.0222.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 5.0759 and 5.0770).

Supports and resistances

5.1494 **

5.1355 *

5.1217 **

5.1078

5.0801 last

5.0685

5.0594 **

5.0361 *

5.0222 **

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