GBP/INR may rise to 111.312 - 112.468

107.154 is our pivot point.

Our preference

The upside prevails as long as 107.154 is support.

Alternative scenario

Below 107.154, expect 105.218 and 104.066.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 107.539 and 107.060). Finally, the GBP/INR is trading above its upper Bollinger band (standing at 108.939).

Supports and resistances

114.780 **

113.624 *

112.468 **

111.312

108.955 last

107.915

107.154 **

105.218 *

104.066 **

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