GBP/INR may rise to 109.898 - 110.763

Our pivot point stands at 106.775.

Our preference

The upside prevails as long as 106.775 is support.

Alternative scenario

Below 106.775, expect 105.327 and 104.464.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 107.098 and 106.478).

Supports and resistances

112.491 **

111.627 *

110.763 **

109.898

108.088 last

107.344

106.775 **

105.327 *

104.464 **

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