Mtechtips MCX-SX GBPINR INTRADAY trading analysis 01-12-2016
MTECHTIPS The Pound is weakening against Indian Rupee .Currently Pound is in strong uptrend but volume is unsatisfactory The open interest is not increasing with trend .. The GBPINR is now trading in oversold level. The GBPINR is now trading in oversold level. The oscillator is on SELL signal and GBPINR is coming down from overbought level For short term Pound is in HOLD LONG position.Positionally Support for GBPINR is 84.79-84.37-83.83-83.46-.Resistance for the GBPINR is 85.89-86.67-91.78-
In long term Pound is relatively strengthening against Euro- Dollar- Yen-
Short term and Intraday Level of Pound with Rupee
Currently GBPINR is in HOLD LONG position GBPINR is moving sideways so short term investor better to buy only if close above 87.0 with stop at 84.9925 on closing The oscillator is showing SELL signal
Intraday Trend- Sell if open below 84.93 with stop loss at 85.641 or sell below 84.74Buy is not advised till it cross 85.831.