GBP/PLN may fall 291 - 433 pips

Our pivot point stands at 5.2273.

Our preference

As long as 5.2273 is resistance look for 5.1611.

Alternative scenario

Above 5.2273, look for 5.2512 and 5.2654.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI should trigger further gains. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 5.2069 and 5.2112).

Supports and resistances

5.2654 **

5.2512 *

5.2273 **

5.2179

5.2044 last

5.1753

5.1611 **

5.1469 *

5.1327 **

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