Gbp inr weekly-almost hit given bullish swing target of 84.8

Pound rupee future weekly technical analysis report for 22 to 26 may 2017

Pound rupee future weekly technical analysis report for 22 to 26 may 2017

Gbp inr future this week closed at 84.15 with gain. After last week correction, weak rupee and pound buying pushed pair to higher levels. Gbp inr future almost hit my given bullish swing target of 84.8 while this week high point was 84.69.   On daily chart, pound rupee future price trend is bullish and this currency pair has taken support at 83 and now heading for 84.8 and 86.2 target levels. for next week, gbp inr future downside support zones as well as fresh buying levels will be 83.9 and 83 rupees while on upside expect short term resistance as well as targets at 84.7 and 85.8.   From investment point of view, pound is downtrend and recorded 2017 low near 80 and now bouncing back towards resistance level of 88.5.

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Pramod Baviskar

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