GBP/RUB may rise to 119.550 - 122.140

Our pivot point is at 110.320.

Our preference

Rebound towards 122.140.

Alternative scenario

The downside breakout of 110.320 would call for 106 and 103.420.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 114.706 and 115.620).

Supports and resistances

127.320 **

124.730 *

122.140 **

119.550

113.860 last

112.020

110.320 **

106.000 *

103.420 **

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