GBP/INR may rise 449 - 623 pips

109.342 is our pivot point.

Our preference

The upside prevails as long as 109.342 is support.

Alternative scenario

Below 109.342, expect 109.051 and 108.878.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 109.507 and 109.357).

Supports and resistances

110.562 **

110.388 *

110.215 **

110.041

109.592 last

109.456

109.342 **

109.051 *

108.878 **

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