GBP/INR may fall 436 - 613 pips

Our pivot point is at 110.041.

Our preference

The downside prevails as long as 110.041 is resistance.

Alternative scenario

Above 110.041, look for 110.339 and 110.516.

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 stands below its 20 and 50 period moving average (respectively at 109.843 and 109.878).

Supports and resistances

110.516 **

110.339 *

110.041 **

109.924

109.749 last

109.313

109.136 **

108.959 *

108.782 **

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