GBP/PLN may rise 279 - 417 pips

Our pivot point is at 5.0415.

Our preference

The upside prevails as long as 5.0415 is support.

Alternative scenario

The downside breakout of 5.0415 would call for 5.0183 and 5.0045.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 5.0566 and 5.0543). Finally, the GBP/PLN is trading above its upper Bollinger band (standing at 5.0615).

Supports and resistances

5.1324 **

5.1186 *

5.1048 **

5.0910

5.0631 last

5.0506

5.0415 **

5.0183 *

5.0045 **

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