GBP/INR may rise 309 - 451 pips

Our pivot point stands at 106.443.

Our preference

The upside prevails as long as 106.443 is support.

Alternative scenario

Below 106.443, expect 106.204 and 106.061.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 106.599 and 106.572).

Supports and resistances

107.372 **

107.229 *

107.086 **

106.944

106.635 last

106.537

106.443 **

106.204 *

106.061 **

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