GBP/RUB may rise to 122.700 - 127.510

Our pivot point stands at 104.740.

Our preference

Rebound.

Alternative scenario

Below 104.740, expect 96.810 and 92.080.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above its 20 period moving average (111.202) but under its 50 period moving average (113.236).

Supports and resistances

137.140 **

132.330 *

127.510 **

122.700

112.660 last

107.860

104.740 **

96.810 *

92.080 **

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