GBP/INR may rise 339 - 508 pips

110.393 is our pivot point.

Our preference

As long as 110.393 is support look for 111.181.

Alternative scenario

Below 110.393, expect 110.108 and 109.939.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 110.666 and 110.466).

Supports and resistances

111.520 **

111.351 *

111.181 **

111.012

110.673 last

110.505

110.393 **

110.108 *

109.939 **

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