Gbp inr future monthly-below 83.5 remain weak and sell for targets 82.35-81.5

Pound rupee future monthly outlook June 2017

Pound rupee future in month of May closed at 83.17 with flat
loss but with high volatility. After last month recovery gains pound seen some
profit booking this month and closed in red against rupee. This month we almost
saw 3 rupee range and then flat negative closing.
For month of June 2017, gbp inr future outlook remain bearish
below 83.5 resistance zone on daily closing basis. On downside my bearish swing
targets zones are 82.35 and then 81.5 rupee. if recovers and gives closing
above 83.5 then reverse then trading strategy and follow buy on dips for
targets 84.35 and then 85.5.
Currency traders keep wait and watch strategy for now as
price patterns are bearish but indicators suggesting strong recovery. So wait
for 83.5 and if negative closing happens below it go short for big downside
positional targets.  

From long term view, pound rupee future opened bearish and
hit low around 79 and now recovered but outlook still bearish and on downside
pound might fall up to 76.6 in 2017.

The Author

Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.
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