GBP/INR may rise to 108.232 - 109.206

Our pivot point is at 104.675.

Our preference

The upside prevails as long as 104.675 is support.

Alternative scenario

Below 104.675, expect 103.044 and 102.074.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 105.198 and 104.847).

Supports and resistances

111.153 **

110.180 *

109.206 **

108.232

106.192 last

105.316

104.675 **

103.044 *

102.074 **

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