Mtechtips MCX-SX GBPINR INTRADAY trading analysis 07-07-2016
Mtechtips MCX-SX GBPINR INTRADAY trading analysis 07-07-2016
MTECHTIPS Pound extended fall to touch fresh 31-year low after Bank of England warned of a number of threats to financial stability arising from Britain’s vote to leave the European Union after having lowered the countercyclical capital buffer on banks’ UK exposures.GBPINR extended its recent bearish move and settled down 0.57% at 89.07 levels. Sell strategy given below 89.74 was initiated and drop towards 88.9275 levels. Near term outlook is looking bearish following to the breakdown to long bearish candle stick, and any rise towards 89.10-89.20 is expect to attract near term selling activities.Today, pair witnessed 1.60% gap down opening and trading at 87.74.00 levels as per the Tuesday sell call it crashed vertically. Now support is seen at 87.55 and fresh sell will expect below this level for the target 87.00-86.50 and below.
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