February 24, 2017

Mtechtips MCX-SX GBPINR INTRADAY trading analysis 06-09-2016
MTECHTIPS Sell around 88.85-88.95 Target 88.55-88.20. Stop loss above 89.20Above 89.20 will expect to test 89.55-89.85GBP recovered from the weekly low of 88.0675 and tested 89.1975 before closing at 88.9375 levels. A better than expected UK manufacturing PMI data eased concerns over Brexit’s impact on United Kingdom’s economy. The pound was supported by batter then UK construction PMI which improved to 49.2 in August versus a forecast of 46.1. on the weekly chart GBPINR looks to witness momentum gain, however it may remained limited towards 89.80 which is coincide with 23.8% Fibonacci Retracement level. Further, on the upside massive resistance is seen at 90.25 and sustain trade above only will expect to test 91.80-92.25.


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