pound rupee forecast for 16 to 20 sep 2013

pound rupee forecast for 16 to 20 sep 2013

pound rupee daily chart technical analysis

pound rupee spot pair on last trading session closed at 100.53 with gains.on daily chart pound rupee pair trend and momentum both still strong bullish.

trading just below week average of 100.8 which is now act as resistance while above that 102-105-106 are previous tops resistance zones while on downside 100.3 and 95.9 are month and 3 month average support levels respectively.below 95.5 pound will enter into bear market with short term view.

on indicators,pound rupee daily chart shows cci level at –19 and with bearish divergence while rsi is at 56 and formed bearish divergence.

gbpinrdailychartfor16to20sep2013

pound rupee weekly chart technical analysis

pound rupee this week closed with loss.this was first week of losses for this pair and this week pound rupee pair made high near 102.5 while low was near 99.4.total 3 rupee downside and showing long term correction and consolidation signs on weekly chart.

pound rupee all major averages are way down in 91 to 86 levels zone.while on chart 103 is clear top and remain as strong supply zone.

on indicators,pound rupee weekly chart cci level is +155 and with bearish pattern near overbought line while rsi is at 70 and heading downward.

pound rupee forecast for 16 to 20 sep 2013

for next week,pound rupee below 101 levels remain sell and expect target at 100-98-96 on downside.if sustain above 101 for more than 1 session then expect 105+ levels as reversal target for pound.

pound rupee from medium to long term view,showing signs of correction.which has very deep downside targets upto 90-91 levels.so below 103 top resistance one can hope for target of 90-91 in medium terms.

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Updated: 15/09/2013 — 9:27 AM

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Pramod Baviskar

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