GBP/INR may rise 448 - 634 pips

109.956 is our pivot point.

Our preference

As long as 109.956 is support look for 110.848.

Alternative scenario

Below 109.956, expect 109.645 and 109.459.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is below its 20 period moving average (110.279) but above its 50 period moving average (109.963).

Supports and resistances

111.219 **

111.034 *

110.848 **

110.662

110.214 last

110.079

109.956 **

109.645 *

109.459 **

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