GBP/INR may rise to 107.701 - 108.370

105.267 is our pivot point.

Our preference

As long as 105.267 is support look for 108.370.

Alternative scenario

The downside breakout of 105.267 would call for 104.146 and 103.478.

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 106.072 and 105.072).

Supports and resistances

109.708 **

109.039 *

108.370 **

107.701

106.268 last

105.708

105.267 **

104.146 *

103.478 **

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