GBP/INR may rise 315 - 470 pips

Our pivot point stands at 107.597.

Our preference

The upside prevails as long as 107.597 is support.

Alternative scenario

Below 107.597, expect 107.336 and 107.181.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 107.741 and 107.709).

Supports and resistances

108.603 **

108.447 *

108.292 **

108.137

107.822 last

107.700

107.597 **

107.336 *

107.181 **

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