GBP/PLN may rise 326 - 463 pips

5.0093 is our pivot point.

Our preference

Rebound towards 5.0739.

Alternative scenario

The downside breakout of 5.0093 would call for 4.9862 and 4.9725.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 5.0308 and 5.0344). Finally, the GBP/PLN has penetrated its lower Bollinger band (5.0278).

Supports and resistances

5.1014 **

5.0877 *

5.0739 **

5.0602

5.0276 last

5.0183

5.0093 **

4.9862 *

4.9725 **

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