GBP/PLN may fall 283 - 425 pips

5.1912 is our pivot point.

Our preference

The downside prevails as long as 5.1912 is resistance.

Alternative scenario

The upside breakout of 5.1912, would call for 5.2149 and 5.2290.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 5.1809 and 5.1837). Finally, the GBP/PLN has penetrated its lower Bollinger band (5.1690).

Supports and resistances

5.2290 **

5.2149 *

5.1912 **

5.1819

5.1683 last

5.1400

5.1258 **

5.1117 *

5.0976 **

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