weak pound may touch 99-98 levels on downside

gbp inr weekly predictions for 30 nov. to 4 dec. 2015

GBP INR future this week closed with gain at 100.81. This was third weekly gains for UK pound against the rupee. Weekly chart price trend and momentum both are bullish. But price pattern and major indicators given sell signal on the weekly chart.
This week high of 101.4 will remain strong resistance and below it traders can keep sell on rise view for targets 99.15 and 98.3 in upcoming weeks. Next major bullish move for pound will occur only above 101.4 level. Monthly chart suggesting, bearish move for pound with price target 97.6.

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Updated: 28/11/2015 — 5:54 PM

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Pramod Baviskar

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