GBP/PLN may fall 296 - 436 pips

Our pivot point is at 5.1452.

Our preference

The downside prevails as long as 5.1452 is resistance.

Alternative scenario

The upside breakout of 5.1452, would call for 5.1687 and 5.1827.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 5.1324 and 5.1365).

Supports and resistances

5.1827 **

5.1687 *

5.1452 **

5.1359

5.1257 last

5.0961

5.0821 **

5.0681 *

5.0541 **

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