October 21, 2016

Mtechtips MCX-SX GBPINR INTRADAY trading analysis 07-09-2016
MTECHTIPS Pound traded up for the fifth-straight day Tuesday as dollar weakened on falling expectations of a Federal Reserve rate hike in near term after weaker than expected labour market improvements in the US. GBPINR continued its recent upwards move and settled at 89.07 compare to previous close of 88.9375 levels. Near term trend expect to remain positive, however there is massive resistance at 89.20 and pair would need to trade above this level in order to test 89.55-89.80. Stop loss will be 89.00.


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