Mtechtips MCX-SX GBPINR INTRADAY trading analysis 17-11-2016
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 . Cautious point is buying at higer levels seems decreasing. The GBPINR is now trading in oversold level. The GBPINR is now trading in oversold level. The oscillator is showing BUY signal For short term The current position is BUY .Positionally Support for GBPINR is 83.14-82.58-82.2-.Resistance for the GBPINR is 85.25-86.35-87.61-92.38-
In medium term Pound is relatively strengthening against Euro- Dollar- Yen- 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 in profit booking mode so either sell of or keep stop at84.158 so better sell and enter at lower level The oscillator is showing BUY signal
Intraday Trend- Sell if open below 84.111 or sell below 83.902 with stop loss at 84.869 Buy if open above 84.869 or buy above 85.08 with stop loss at 84.111.