Mtechtips MCX-SX GBPINR INTRADAY trading analysis 25-08-2016
Mtechtips MCX-SX GBPINR INTRADAY trading analysis 25-08-2016
MTECHTIPS Pound traded up Wednesday after as survey conducted by CBI showed export order books have reached a two-year high, suggesting that the depreciation of sterling since the end of last year may be feeding through to stronger overseas demand.GBPINR extended its recent bullish trend and after breaching the resistance 88.70 tested 88.9750 before closing at 88.91 levels. Buy strategy given above 88.12 since 19 August was successful. In near term GBPINR is expect to remain bullish following to long bullish candle stick formation on EOD chart. But, pair would need to trade above 89.00 in order to test 89.45-89.70.Immediate support is seen at 88.70 below will expect to test 88.30-88.00.
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