gbp to inr weekly graph technical analysis for 19 to 23 sep 2016

NSE.GBPINR - OHLC Six Months_1w 2016-09-16 180155 Gbp inr future this week closed with loss. Pound rupee future weekly chart trend is very bearish but oversold so seeing some value buying on lower levels. Momentum also building on long side and daily chart indicators are already pointing it out.   This week, gbp inr future made high around 89.12 while low was at 88.32 and closed near it. Total 80 paise or 1% weekly range and negative weekly closing after last 4 weeks continues recovery move. Gbp inr future 6 weeks average level is 88.66 and then 89.75 is 13 weeks average level. Both are strong resistances on upside.   For pound rupee future next week, my view and strategy is buy on dips above 88 rupee levels. I am expecting target of 90 and then 91.7 in next 1 to 3 weeks for this currency future.   Pound on daily chart looking bearish but oversold so expect sudden short covering rally ahead.   For Indian currency tips on whatsapp with real time support and follow ups visit our subscription section.

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