GBP/RUB may fall to 102.860 - 105.440

Our pivot point stands at 116.290.

Our preference

The downside prevails as long as 116.290 is resistance.

Alternative scenario

Above 116.290, look for 120.710 and 123.350.

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 113.648 and 114.862). Finally, the GBP/RUB is trading below its lower Bollinger band (standing at 111.215).

Supports and resistances

123.350 **

120.710 *

116.290 **

114.550

110.612 last

105.440

102.860 **

100.270 *

97.690 **

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