GBP/PLN may rise 288 - 427 pips

Our pivot point is at 5.0688.

Our preference

The upside prevails as long as 5.0688 is support.

Alternative scenario

The downside breakout of 5.0688 would call for 5.0455 and 5.0316.

Comment

The RSI is above 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 5.0800 and 5.0774).

Supports and resistances

5.1612 **

5.1473 *

5.1334 **

5.1195

5.0907 last

5.0780

5.0688 **

5.0455 *

5.0316 **

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