Mtechtips MCX-SX GBPINR INTRADAY trading analysis 26-08-2016
MTECHTIPS Pound traded off 3-week high Thursday as investors booked profit ahead of the United Kingdom’s GDP data and Federal Reserve Chair, Janet Yellen’s speech due tomorrow.GBPINR has stalled its recent momentum upside move and retraced more than 0.45% yesterday. On the EOD chart GBPINR formed a bearish harami candle stick which is indicating for bullish trend reversal. Hence, sell around 88.60-88.70 Target 88.20-88.00. Stop loss above 88.85On the upside, strong resistance is seen at 89.00 and pair would need to trade above it in order to test 89.35-89.70.