GBP/RUB may fall to 96.920 - 100.650

Our pivot point stands at 114.150.

Our preference

The downside prevails as long as 114.150 is resistance.

Alternative scenario

The upside breakout of 114.150, would call for 120.480 and 124.250.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 111.854 and 111.985).

Supports and resistances

124.250 **

120.480 *

114.150 **

111.670

108.167 last

100.650

96.920 **

93.190 *

89.460 **

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