GBP/INR may rise 376 - 549 pips

Our pivot point is at 109.140.

Our preference

The upside prevails as long as 109.140 is support.

Alternative scenario

Below 109.140, expect 108.849 and 108.677.

Comment

The RSI is above its neutrality area at 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 109.324 and 109.228).

Supports and resistances

110.262 **

110.090 *

109.917 **

109.744

109.368 last

109.254

109.140 **

108.849 *

108.677 **

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