GBP/RUB may fall to 95.240 - 99.970

Our pivot point is at 118.170.

Our preference

The downside prevails as long as 118.170 is resistance.

Alternative scenario

Above 118.170, look for 126.290 and 131.120.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 111.401 and 113.545).

Supports and resistances

131.120 **

126.290 *

118.170 **

114.990

110.488 last

99.970

95.240 **

90.510 *

85.780 **

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