GBP/INR may rise 375 - 554 pips

Our pivot point stands at 108.748.

Our preference

As long as 108.748 is support look for 109.539.

Alternative scenario

Below 108.748, expect 108.447 and 108.267.

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 108.985 and 108.918).

Supports and resistances

109.898 **

109.719 *

109.539 **

109.360

108.985 last

108.867

108.748 **

108.447 *

108.267 **

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