GBP/INR may rise 306 - 420 pips

105.962 is our pivot point.

Our preference

Rebound towards 106.573.

Alternative scenario

Below 105.962, expect 105.770 and 105.656.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 106.170 and 106.276).

Supports and resistances

106.802 **

106.688 *

106.573 **

106.459

106.153 last

106.037

105.962 **

105.770 *

105.656 **

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