Gbp inr weekly-bullish breakout targets 85.45 and then 89+

Gbp inr weekly-bullish breakout targets 85.45 and then 89 Pound rupee weekly technical analysis 7 to 11 November 2016 Gbp inr future this week closed with strong gain at 83.62. This week we almost saw 2 rupee or 2.5% gains for pound against rupee. Pound made bottom at 81 and now heading for higher levels on value buying. Pound rupee future given bullish breakout at 83.4 and heading towards my targets 85.45 and then 89+. Last session was breakout day on strong price action with volume.   Positional currency traders above 83.4 keep buy and accumulate view on gbp inr future with stop loss below 83 for target 85.45 and above 85.5 expect upside up to 89.   From long term view, pound rupee pair is recovering towards targets 84.1 and then 91.25. But trend is still down and if fails to cross 84.1 on weekly closing basis then expect downside target up to 77.

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