GBP/INR may rise 323 - 449 pips

Our pivot point is at 107.051.

Our preference

As long as 107.051 is support look for 107.674.

Alternative scenario

The downside breakout of 107.051 would call for 106.841 and 106.716.

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 107.139 and 107.037).

Supports and resistances

107.924 **

107.799 *

107.674 **

107.548

107.225 last

107.134

107.051 **

106.841 *

106.716 **

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