GBP/INR may rise 418 - 596 pips

Our pivot point stands at 109.602.

Our preference

The upside prevails as long as 109.602 is support.

Alternative scenario

Below 109.602, expect 109.304 and 109.127.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is below its 20 period moving average (109.885) but above its 50 period moving average (109.840).

Supports and resistances

110.827 **

110.649 *

110.472 **

110.294

109.876 last

109.719

109.602 **

109.304 *

109.127 **

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