GBP/INR may rise 303 - 446 pips

Our pivot point stands at 106.913.

Our preference

As long as 106.913 is support look for 107.596.

Alternative scenario

Below 106.913, expect 106.672 and 106.529.

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 107.125 and 107.068).

Supports and resistances

107.882 **

107.739 *

107.596 **

107.453

107.150 last

107.007

106.913 **

106.672 *

106.529 **

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