GBP/PLN may rise 303 - 440 pips

5.0167 is our pivot point.

Our preference

The upside prevails as long as 5.0167 is support.

Alternative scenario

The downside breakout of 5.0167 would call for 4.9936 and 4.9799.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 5.0292 and 5.0331).

Supports and resistances

5.1085 **

5.0948 *

5.0810 **

5.0673

5.0370 last

5.0258

5.0167 **

4.9936 *

4.9799 **

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