GBP/INR may rise to 109.725 - 110.799

Our pivot point is at 105.696.

Our preference

As long as 105.696 is support look for 110.799.

Alternative scenario

Below 105.696, expect 103.900 and 102.831.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is below its 20 period moving average (107.474) but above its 50 period moving average (106.861).

Supports and resistances

112.946 **

111.872 *

110.799 **

109.725

107.397 last

106.402

105.696 **

103.900 *

102.831 **

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