Mtechtips MCX-SX GBPINR INTRADAY trading analysis 27-09-2016
MTECHTIPS Pound traded lower for second-consecutive day Monday on looming worries about the aftermath of Britain’s exit from the European Union after UK Foreign Secretary Boris Johnson commented that he expects Britain to start formal Brexit negotiations early 2017.
GBPINR extended its fall and settled at 86.22, down by 0.38%. A strong reversal from its short term MA and formation of long bearish candle stick is yet creating probability for correction in GBPINR. On the upside, strong resistance is seen at 86.85 sustain trade above only will expect to test 87.25-87.55.