GBP/INR may rise 227 - 323 pips

Our pivot point stands at 106.161.

Our preference

As long as 106.161 is support look for 106.634.

Alternative scenario

Below 106.161, expect 105.998 and 105.902.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 106.284 and 106.217).

Supports and resistances

106.827 **

106.731 *

106.634 **

106.538

106.311 last

106.224

106.161 **

105.998 *

105.902 **

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