Pound rupee future in month of September, closed at 87.71 with huge gain. This was almost fist strong gaining month for Pound rupee future and in this month Pound rupee future rallied from low of 82.8 to high of 88.75 total 6 rupee gains from lows in month of September.
For month of October, Pound rupee future above 86.5 will remain strong and bullish and trading strategy remain buy and accumulate with stop loss below 86.5 rupee. On upside Pound rupee future will have resistance as well as buy targets around 90.15 and then 92.4 for October series. If pound fails to hold 86.5 level then expect sharp profit booking and correction in October up to 84.2 to 80.5 rupee levels.
Pound rupee Daily chart price pattern and indicators suggesting pound might test 86.5 level before making major move so expect 86.5 first. Weekly chart also with early topped out pattern so expect correction and then continuation or breakdown.
For currency traders, Pound rupee future outlook above 86.5 remain strong bullish and trading strategy will remain buy and accumulate. But first wait for corrective move till then one must follow wait and watch strategy for pound. On upside 90.15 is first target zone and then 92.4 will be next target level. If Pound rupee future breaks 86.5 and sustain then exit long and go short for corrective move up to 84.2 to 80.5 rupee level.