GBP/PLN may rise 295 - 433 pips

Our pivot point stands at 5.0342.

Our preference

Rebound.

Alternative scenario

Below 5.0342, expect 5.0110 and 4.9972.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price stands above its 20 period moving average (5.0523) but below its 50 period moving average (5.0565).

Supports and resistances

5.1251 **

5.1113 *

5.0975 **

5.0837

5.0542 last

5.0433

5.0342 **

5.0110 *

4.9972 **

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