GBP/PLN may rise 290 - 429 pips

Our pivot point stands at 5.0557.

Our preference

As long as 5.0557 is support look for 5.1173.

Alternative scenario

The downside breakout of 5.0557 would call for 5.0324 and 5.0185.

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 above its 20 and 50 period moving average (respectively at 5.0739 and 5.0710).

Supports and resistances

5.1450 **

5.1311 *

5.1173 **

5.1034

5.0744 last

5.0648

5.0557 **

5.0324 *

5.0185 **

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