GBP/INR may rise 308 - 432 pips

107.588 is our pivot point.

Our preference

Rebound towards 108.249.

Alternative scenario

Below 107.588, expect 107.379 and 107.254.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 107.887 and 107.943).

Supports and resistances

108.498 **

108.374 *

108.249 **

108.125

107.817 last

107.670

107.588 **

107.379 *

107.254 **

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