GBP/PLN may rise 276 - 415 pips

Our pivot point is at 5.0382.

Our preference

As long as 5.0382 is support look for 5.0979.

Alternative scenario

The downside breakout of 5.0382 would call for 5.0150 and 5.0012.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (5.0565) but above its 50 period moving average (5.0484).

Supports and resistances

5.1255 **

5.1117 *

5.0979 **

5.0840

5.0564 last

5.0473

5.0382 **

5.0150 *

5.0012 **

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