GBP/INR may rise 274 - 398 pips

Our pivot point stands at 106.322.

Our preference

Rebound towards 106.983.

Alternative scenario

Below 106.322, expect 106.113 and 105.989.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (106.531) but under its 50 period moving average (106.928).

Supports and resistances

107.232 **

107.108 *

106.983 **

106.859

106.585 last

106.404

106.322 **

106.113 *

105.989 **

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