GBP/INR may rise to 109.447 - 110.319

Our pivot point is at 106.358.

Our preference

As long as 106.358 is support look for 110.319.

Alternative scenario

Below 106.358, expect 104.896 and 104.026.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 107.144 and 106.327).

Supports and resistances

112.062 **

111.191 *

110.319 **

109.447

107.686 last

106.932

106.358 **

104.896 *

104.026 **

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