Mtechtips MCX-SX GBPINR INTRADAY trading analysis 21-11-2016
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 83.52-82.96-82.39-.Resistance for the GBPINR is 86.25-87.32-92.25-
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 with low volatality so short term investor better to buy if close above 85.2575 close below 83.9 sell will happen. The GBPINR is now trading is approaching overbought level. The GBPINR is now trading is approaching overbought level. The oscillator is on SELL signal and GBPINR is coming down from overbought level
Intraday Trend-Intraday better to buy above 85.38 and Sell if below84.101.