pound rupee daily chart technical analysis
pound rupee spot pair last closed at 99.5 with loss.on daily chart pound rupee trend is bullish but momentum losing out on account of correction.
on daily chart 100.2 is week and month average and first resistance on upside above that 102.5 and 106 are major resistance levels on daily chart.on downside 96.55 is 3 month average and first major support on daily chart.below that 94 and 92 are next support levels.
on indicators,pound rupee daily chart cci level is –96 with bearish divergence while rsi level is 52 and near support.
pound rupee weekly chart technical analysis
pound rupee pair this week closed in red.this was 3rd week of loss and in these 3 weeks pound rupee corrected from 107 to now 99 and may continue to track down in upcoming time.
on upside 103-105 are major resistance levels on weekly chart for pound rupee.on downside 92-85 is major average zone and long term support zone for pound rupee.
on indicators,pound rupee weekly chart cci level is +132 and with correction pattern.while rsi is at 68 and forming corrective pattern.
pound rupee forecast for 23 to 27 sep 2013
pound rupee for next week,may continue correction and below 100.5 keep sell view for target 97-96.if close above 101 and sustain then must buy and expect targets upto 104-105.
from medium to long term view,correction may continue and pair may stabilize around 92-95 zone.any weekly closing above 103 will be considered as reversal and uptrend will resume for new high.