gbp inr future weekly technical analysis for 7 to 11 march 2016
Gbp inr future this week closed with loss. This was third losing week for pound against rupee. In these 3 weeks gbp lost almost 5 rupee. From top of 99.5 to 94.5. For next week, expect gbp inr future to recover. On upside 96.7 is first target zone for this recovery rally. Above 96.7 trend will change to bull side and in that scenario targets will extends to 98.2 and then possibly 101. On downside, 93.8 is major support and best buy zone from medium to long term view. Ifgive monthly closing above 98.5 then long term trend will change to bull side.