October 24, 2016

Mtechtips MCX-SX GBPINR INTRADAY trading analysis 09-09-2016
MTECHTIPS Pound traded higher Thursday on weak dollar as investors lower their expectations for a Federal Reserve rate hike in the near term ahead of the European Central Bank monetary policy decision.After hitting a low of 88.80, GBPINR saw small pullback and tested 89.0425 before closing at 88.97 levels. Intraday price action resulted in formation of high wave candle stick which is indicating for indecisive trend in GBPINR. Massive resistance is seen at 89.35 and sustained trade above only will expect to test 89.55-89.80. On the downside, crucial support is seen at 88.80 and probability for correction will increase below this level for the target 88.50-88.35.


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