GBP/PLN may fall 292 - 429 pips

5.0345 is our pivot point.

Our preference

The downside prevails as long as 5.0345 is resistance.

Alternative scenario

The upside breakout of 5.0345, would call for 5.0575 and 5.0712.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 5.0219 and 5.0157).

Supports and resistances

5.0712 **

5.0575 *

5.0345 **

5.0254

5.0150 last

4.9858

4.9721 **

4.9584 *

4.9448 **

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