GBP/PLN may rise 302 - 438 pips

Our pivot point stands at 4.9738.

Our preference

The upside prevails as long as 4.9738 is support.

Alternative scenario

The downside breakout of 4.9738 would call for 4.9509 and 4.9373.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 4.9818 and 4.9794).

Supports and resistances

5.0656 **

5.0520 *

5.0383 **

5.0247

4.9945 last

4.9828

4.9738 **

4.9509 *

4.9373 **

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