December 4, 2016

Mtechtips MCX-SX GBPINR INTRADAY trading analysis 23-09-2016

MTECHTIPS Pound traded higher for the second-consecutive session Thursday as Federal Reserve kept benchmark interest rate steady and signaled slower pace of rate hike in the coming years.GBPINR retraced from the day high 87.51 and tested 87.15 before closing at 87.20 levels. A strong reversal from its short term MA is creating probability for correction in GBPINR.However, there is crucial support at 87.00 and pair would need to trade below this level in order to test 86.80-86.55. On the upside, strong resistance is seen at 87.35 sustain trade above only will expect to test 87.70-88.00

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