pound rupee future technical analysis for week 29 feb to 4 march 2016
Pound rupee future this week closed with loss. This was second weekly loss for UK sterling against rupee. In these 2 weeks period pound almost lost 5 rupee in its value. This week gbpinr future high was over 98 and low was near 95. Almost 3 rupee or 3% downside move and weak weekly closing. For next week, outlook is bearish and below 97.5 pound remain sell on rise for targets 96 and then 94.4. Traders must use these upside for accumulating shorts. 96 is immediate support and below it expect sharp fall in pound in short terms. From medium to long term view, pound below 98 remain weak and expect targets of 91 and 84 rupee. forby sms, joiun our premium .