GBP/PLN may rise 292 - 433 pips

Our pivot point stands at 5.1557.

Our preference

As long as 5.1557 is support look for 5.2187.

Alternative scenario

The downside breakout of 5.1557 would call for 5.1320 and 5.1178.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 5.1744 and 5.1675).

Supports and resistances

5.2470 **

5.2328 *

5.2187 **

5.2046

5.1754 last

5.1650

5.1557 **

5.1320 *

5.1178 **

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