February 25, 2017

Mtechtips MCX-SX GBPINR INTRADAY trading analysis 07-10-2016

MTECHTIPS Sterling seized center stage in early Asian trading on Friday, plunging to fresh three-decade lows in thin conditions as a break of key technical support levels triggered wave of stop-loss orders.The pound came under renewed pressure on Thursday, against a backdrop of anxiety about a “hard” exit by Britain from the EU and about Prime Minister Theresa May’s comments on the impact of loose monetary policy, which some saw as a thinly veiled attack on the Bank of Philandering extended its recent bearish move and drop more 0.30% yesterday.  Today, pair open with 1.75% fall and trading around 83.45 compare to previous close of 84.9075 levels.Near term trend expect to remain negative and fresh sell could arise below 83.00 target 82.65-82.40, else wait for rise towards 83.90-84.00. Stop loss above 85.15.On the upside, strong resistance is seen at 84.30 and probability for momentum gain towards 84.80-85.10 could arise above this level.





Comments are closed.

NOTE : You are advised to take your position with your sense and judgment.The views and investment tips expressed by users on MCXStar.com are their own, and not that of the website or its management. MCXStar.com advises users to check with certified experts before taking any investment decisions. If any other company also giving same script and recommandation then we are not responsible for that. We have not any position in our given scripts. Visiting our web one should by agree to our terms and condition and disclaimer also. All credit goes to original authors of post on this website. Website owner is not responsible for any loss due to your own decision or judgement. Thanks for Visiting our Website.