GBP/INR may fall 212 - 318 pips

106.961 is our pivot point.

Our preference

As long as 106.961 is resistance look for 106.428.

Alternative scenario

Above 106.961, look for 107.139 and 107.244.

Comment

The RSI is below 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI would call for further upside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 106.763 and 106.757).

Supports and resistances

107.244 **

107.139 *

106.961 **

106.891

106.746 last

106.534

106.428 **

106.323 *

106.217 **

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