GBP/PLN may fall 274 - 411 pips

5.0432 is our pivot point.

Our preference

Under pressure below 5.0432.

Alternative scenario

Above 5.0432, look for 5.0663 and 5.0800.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 5.0286 and 5.0274).

Supports and resistances

5.0800 **

5.0663 *

5.0432 **

5.0342

5.0229 last

4.9955

4.9818 **

4.9681 *

4.9544 **

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