GBP/INR may rise 244 - 359 pips

Our pivot point is at 106.458.

Our preference

As long as 106.458 is support look for 107.030.

Alternative scenario

The downside breakout of 106.458 would call for 106.265 and 106.151.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 106.611 and 106.252).

Supports and resistances

107.260 **

107.145 *

107.030 **

106.915

106.671 last

106.534

106.458 **

106.265 *

106.151 **

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