GBP/PLN may rise 279 - 416 pips

Our pivot point stands at 5.0044.

Our preference

The upside prevails as long as 5.0044 is support.

Alternative scenario

Below 5.0044, expect 4.9814 and 4.9677.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 5.0141 and 5.0097). Finally, the GBP/PLN has crossed above its upper Bollinger band (5.0231).

Supports and resistances

5.0923 **

5.0786 *

5.0649 **

5.0512

5.0233 last

5.0135

5.0044 **

4.9814 *

4.9677 **

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