pound rupee forecast for 24 to 28 june 2013

pound rupee daily chart technical analysis

pound rupee spot pair last closed at 92.31 with gains.on daily chart pound trading at new highs with heavy buying momentum.

on daily chart gbpinr trend and momentum bullish from short term view.on upside trading at high but expect psychological supply zone near 94-95 levels.on downside 91.4 is week average and first support.below that 88.7 is month average and 86 is 3 month average and last support from short term view.

on daily chart,gbpinr rsi is 71 and with bullish divergence.while cci is +105 and off the highs!!

pound rupee weekly chart technical analysis

pound rupee spot pair this week closed with heavy gains.this week pound rupee spot made low at 90.09 while high was 92.58.total 2.5 rupee or 3% rally in week.and this was 5th week of gains for this pair with almost 10 rupee or 12% gains in very short time.

on weekly chart,94-95 is next target zone range while on downside all major medium to long term averages are 83 to 86 zones.

on weekly chart,gbpinr rsi is 64 level with bullish divergence while cci is +293 and seems to overbought.

pound rupee forecast for 24 to 28 june 2013

for next week,91.4 is support level to watch and above this hold long view for new highs near 94-95.below 91.4 expect deeper correction upto 88-89 which is 2-3 rupee fall.trend is bullish and on correction or consolidation traders must remain on long side with stoploss.

from medium to long term view,94-95 is first target zone and then 99-100 will be second one.major average are far down side but 89.5 will be support are remain important for medium term traders.below that consolidation and correction may take pair to 85-86 levels zone.

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Pramod Baviskar

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