GBP/INR may rise to 108.424 - 109.158

Our pivot point is at 105.817.

Our preference

The upside prevails as long as 105.817 is support.

Alternative scenario

Below 105.817, expect 104.585 and 103.852.

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 106.066 and 105.772).

Supports and resistances

110.627 **

109.893 *

109.158 **

108.424

106.883 last

106.301

105.817 **

104.585 *

103.852 **

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