GBP/RUB may rise to 126.020 - 130.090

Our pivot point is at 110.490.

Our preference

The upside prevails as long as 110.490 is support.

Alternative scenario

The downside breakout of 110.490 would call for 103.770 and 99.770.

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 112.036 and 112.063).

Supports and resistances

138.240 **

134.170 *

130.090 **

126.020

117.282 last

113.130

110.490 **

103.770 *

99.770 **

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