GBP/RUB may fall to 105.730 - 108.070

116.390 is our pivot point.

Our preference

The downside prevails as long as 116.390 is resistance.

Alternative scenario

The upside breakout of 116.390, would call for 120.340 and 122.690.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 114.297 and 115.310).

Supports and resistances

122.690 **

120.340 *

116.390 **

114.830

113.271 last

108.070

105.730 **

103.390 *

101.040 **

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