GBP to INR forecast 31 March to 4 April 2014

GBP to INR forecast, predictions,  price analysis, technical analysis,charts and tips for 31 March to 4 April 2014. 

GBP to INR daily chart technical analysis

GBP to INR spot pair on last trading session closed at 99.56 with loss. On daily chart, pound is in downtrend against Indian rupee with strong bearish momentum. For next week, GBP to INR support zones are 99.5 and 98.8 while on upside expect resistances at 101.1 which is 1 month average level and 101.75 which is its 3 month average level.

For short sellers 99.95 is trailing stop loss for now. Daily chart indicators patterns are bearish and near oversold zone. 

GBP to INR weekly chart technical analysis

GBP to INR spot pair this week closed with loss. This was 4th losing week for English pound against Indian rupee. In these 4 weeks period pound is tumbled from 104 to 99.5. This week pound hit high at 100.61 while low was at 99.24. Total 1.4-rupees range or 1.5% weekly swing for pound and closed with red with bearish breakout below 6-month average. Pound is heading towards its 12 and 24 month averages with bearish indicators patterns on weekly chart.

On downside 97 is 12-month average level and 91.75 is 24-month average level. Bo will serve as medium to long-term support zones on weekly chart. On upside 100.4 is first resistance and then 102 will be next strong resistance. Investors below 100.4 keep short view here and expect 97 to 95 as targets in upcoming weeks.

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Pramod Baviskar

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