GBP/RUB may fall to 105.210 - 107.720

Our pivot point is at 116.630.

Our preference

The downside prevails as long as 116.630 is resistance.

Alternative scenario

The upside breakout of 116.630, would call for 120.860 and 123.380.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 114.906 and 115.823). Finally, the GBP/RUB is trading below its lower Bollinger band (standing at 112.898).

Supports and resistances

123.380 **

120.860 *

116.630 **

114.970

112.812 last

107.720

105.210 **

102.710 *

100.200 **

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