GBP/RUB may rise to 127.710 - 131.670

Our pivot point stands at 113.050.

Our preference

As long as 113.050 is support look for 131.670.

Alternative scenario

The downside breakout of 113.050 would call for 106.480 and 102.570.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 118.210 and 114.564).

Supports and resistances

139.590 **

135.630 *

131.670 **

127.710

118.994 last

115.630

113.050 **

106.480 *

102.570 **

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