GBP/INR may rise 255 - 381 pips

107.964 is our pivot point.

Our preference

The upside prevails as long as 107.964 is support.

Alternative scenario

The downside breakout of 107.964 would call for 107.753 and 107.628.

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 108.113 and 108.079).

Supports and resistances

108.789 **

108.663 *

108.538 **

108.412

108.157 last

108.047

107.964 **

107.753 *

107.628 **

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