GBP/PLN may rise 293 - 434 pips

Our pivot point is at 5.1143.

Our preference

The upside prevails as long as 5.1143 is support.

Alternative scenario

The downside breakout of 5.1143 would call for 5.0908 and 5.0767.

Comment

The RSI is above 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 5.1307 and 5.1306).

Supports and resistances

5.2055 **

5.1915 *

5.1775 **

5.1634

5.1341 last

5.1235

5.1143 **

5.0908 *

5.0767 **

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