Pound rupee weekly forecast 17 to 21 March 2014

Pound rupee weekly forecast, predictions,  price analysis, technical analysis,charts and tips for 17 to 21 March 2014.

Pound rupee daily chart technical analysis

Pound rupee spot on last trading session closed at 101.84 with loss. On daily chart, GBP INR price trend and momentum both are down. Pair is trading below its month and 3 month averages with recovery patterns on indicators. For next week, below 102.3 traders keep sell on rise view for pair. On upside 102.3 and 102.5 are strong resistances while on downside 101.2 and 100.5 are strong support zones as well as targets levels for next week if trend continues.

Pound rupee weekly chart technical analysis

Pound rupee spot this week closed with loss. On weekly chart, English pound still in uptrend only momentum is fizzling out as rupee gaining on improving fundamental outlook and profit booking in pound. On downside 100.5 is GBP INR 6 month average level and first support zone on weekly chart. Below that 96.8 is 12 month average and next major support. On upside 103 and 105.5 are strong resistances and still targets for medium to long terms.

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Pramod Baviskar

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