pound to rupee daily chart technical outlook
pound to rupee pair on daily chart last closed at 83.19 with loss.on daily chart gbpinr look like entered into bearish territory with downside breakout.
on chart,all averages are at 83.43 and remain as strong resistance zone for short term view.on downside 82 and 80.4 are major supports on daily chart.trend will change on bull side if close above 83.5.on indicators cci is –10 and with bearish divergence while rsi is at 49 with fresh sell signal from short term view.
pound to rupee weekly chart technical outlook
pound rupee pair on weekly chart showing deep cut in this week and given downside reversal from 6-12 month average crossover.on upside 84.1 is 6-12 month average level and strong resistance from medium term view on downside 82.1 is 2 years average and last support for pound from long term view against rupee.below that 80.1 is previous bottom support.
on indicators,pound rupee cci is –33 and turned down from +0 which is sell sign while rsi is at 47 and in bearish territory.
pound to rupee predictions for 20 to 24 may 2013
for next week below 83.5 on closing basis hold sell on rise view and expect 82 to 80.5 as downside targets.if closed above 83.5 then must exit short and watch for long side.
from medium to long term view,look like once again pound going for 82 level for testing if close above 82 on weekly basis then may be this time show 78-76 levels on downside on weak sentiment.