GBP/INR may rise 286 - 428 pips

Our pivot point is at 106.402.

Our preference

The upside prevails as long as 106.402 is support.

Alternative scenario

Below 106.402, expect 106.163 and 106.020.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 106.533 and 106.567).

Supports and resistances

107.374 **

107.232 *

107.089 **

106.947

106.661 last

106.496

106.402 **

106.163 *

106.020 **

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