GBP/RUB may fall to 96.950 - 101.080

Our pivot point is at 117.570.

Our preference

The downside prevails as long as 117.570 is resistance.

Alternative scenario

The upside breakout of 117.570, would call for 124.690 and 128.920.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 112.495 and 114.167).

Supports and resistances

128.920 **

124.690 *

117.570 **

114.780

110.089 last

101.080

96.950 **

92.810 *

88.670 **

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