GBP/PLN may fall 285 - 421 pips

Our pivot point stands at 5.0248.

Our preference

The downside prevails as long as 5.0248 is resistance.

Alternative scenario

The upside breakout of 5.0248, would call for 5.0478 and 5.0615.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 5.0104 and 5.0156).

Supports and resistances

5.0615 **

5.0478 *

5.0248 **

5.0158

5.0030 last

4.9745

4.9609 **

4.9472 *

4.9336 **

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