GBP/INR may rise 234 - 328 pips

Our pivot point stands at 106.773.

Our preference

As long as 106.773 is support look for 107.293.

Alternative scenario

Below 106.773, expect 106.615 and 106.521.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 106.906 and 106.848).

Supports and resistances

107.482 **

107.387 *

107.293 **

107.199

106.965 last

106.835

106.773 **

106.615 *

106.521 **

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