February 24, 2017

Mtechtips MCX-SX GBPINR INTRADAY trading analysis 02-08-2016
MTECHTIPS GBP-INR August Future Sell below 88.40 Target 88.15-88.00. Stop loss above 88.55. Pound fell Monday after the UK purchasing manufacturing index downgraded for the month of July. The currency pair traded down after the UK manufacturing activity deteriorated at a sharper rate in the month of July compared to the reading in June. short term pennant pattern breakdown was noted on EOD chart which is indicating for decent fall may take place in GBPINR, and break below 88.40 is expect to test 88.00-87.50 very soon. Further, massive resistance is seen at 89.10 and pair would need to trade above this level in order to test 89.65-90.00



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