GBP/PLN may rise 295 - 434 pips

Our pivot point stands at 5.0760.

Our preference

The upside prevails as long as 5.0760 is support.

Alternative scenario

Below 5.0760, expect 5.0526 and 5.0387.

Comment

The RSI is above 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 5.0846 and 5.0851). Finally, the GBP/PLN has crossed above its upper Bollinger band (5.0928).

Supports and resistances

5.1656 **

5.1517 *

5.1378 **

5.1239

5.0944 last

5.0852

5.0760 **

5.0526 *

5.0387 **

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