Mtechtips MCX-SX GBPINR INTRADAY trading analysis 18-11-2016
MTECHTIPS The Pound is weakening against Indian Rupee .Currently Pound is in strong uptrend and the trend is supported with good volume 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 83.37-82.8-82.27-.Resistance for the GBPINR is 85.16-86.3-87.47-92.31-
In medium term Pound is relatively strengthening against Euro- Dollar- 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 if close above 85.2575 with stop at 82.5075 The oscillator is showing BUY signal
Intraday Trend- Buy above 85.04 and keep stop below 84.451 Target is 85.17 next 85.38 Below 84.321 trend reversal can occur and next level is 84.111.