Monday 18 January 2016

Mtechtips MCX-SX GBPINR INTRADAY trading analysis 19-01-2016

Mtechtips MCX-SX GBPINR INTRADAY trading analysis 19-01-2016
Mtechtips Pound rebounded from fresh six-year lows Monday on short-covering ahead of China detailing its fourth quarter gross domestic product tomorrow. After hitting a low of 96.53, GBPINR saw a pullback towards 97.0625 and settled at 96.95.  Intraday price action resulted in formation of high wave candle stick which is indicating for indecisive move in GBPINR. Immediate resistance for today is seen at 97.10 and bullish rally is expected to come above this level. else sell on rise towards 96.80-96.90 could expect with above stop loss. Target 96.40-96.00.
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