GBP/RUB may rise to 124.410 - 129.610

Our pivot point is at 106.040.

Our preference

The upside prevails as long as 106.040 is support.

Alternative scenario

The downside breakout of 106.040 would call for 97.390 and 92.250.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 112.493 and 112.968).

Supports and resistances

140.010 **

134.810 *

129.610 **

124.410

113.056 last

109.430

106.040 **

97.390 *

92.250 **

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