GBP/PLN may rise 316 - 456 pips

Our pivot point is at 5.1053.

Our preference

Rebound towards 5.1707.

Alternative scenario

The downside breakout of 5.1053 would call for 5.0818 and 5.0678.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (5.1249) but under its 50 period moving average (5.1275).

Supports and resistances

5.1987 **

5.1847 *

5.1707 **

5.1567

5.1251 last

5.1145

5.1053 **

5.0818 *

5.0678 **

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