Mtechtips MCX-SX GBPINR INTRADAY trading analysis 21-03-2017.
MTECHTIPS:- Pound is weakening against Indian Rupee .Currently Pound is in strong downtrend but volume is unsatisfactory The open interest is not increasing with trend . Noting point is selling at lower 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 Pound is in SELL position.Positionally Support for GBPINR is 80.76-.Resistance for the GBPINR is 81.96-82.77-83.64-84.08-84.16-87.08-
In medium term Pound is relatively strengthening against Euro- Dollar- Yen- In long term Pound is relatively strengthening against Dollar-
Short term and Intraday Level of Pound with Rupee
Currently GBPINR is in HOLD LONG position GBPINR has crossed the high but the trend was not strong and sellers was at high so for short term better buy above 81.633 with stop at 79.7625 The oscillator is showing BUY signal
Intraday Trend- Buy is advised only above 81.633 with a stop at 81.018 Below 80.928 go for sell and put stop at 81.543