Mtechtips MCX-SX GBPINR INTRADAY trading analysis 20-10-2016
MTECHTIPS Pound traded off one-week high Wednesday as investors booked their profits taking advantage of a rise in the pound after the data showed that the UK jobless claims rose lesser than expected in the month of September.GBPINR had a volatile Wednesday and settled at 82.04 levels almost flat. On the EOD chart pair failed to break its short term SMA which yet creating probability for correction. On the upside, strong resistance is seen at 82.30 and trend reversal could take place only above these levels and pair may test 82.55-82.75.May sell around 82.10-82.20 Target 81.90-81.75. Stop loss above 82.35.