Gbp inr weekly-correcting towards support of 82.3 but remain buy on dips

Pound rupee future weekly technical analysis report for 15 to 19 may 2017

Pound rupee future weekly technical analysis report for 15 to 19 may 2017

Gbp inr future this week closed at 82.87 with loss. On daily chart, pound rupee future price trend is bullish but momentum is fizzing out on strong rupee and profit in pound. Now pound is retracing towards support zone of 82.3 to test it. Above 82.3 gbp inr currency pair outlook remain bullish and strategy remain buy on dips. On upside pound rupee May 2017 bullish targets will be 84.8 and 86.2.   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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