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Mtechtips MCX-SX GBPINR INTRADAY trading analysis 06-08-2015

Mtechtips MCX-SX GBPINR INTRADAY trading analysis 06-08-2015
Mtechtips Pound pared gains during mid-European trade Wednesday after United Kingdom’s Markit Service Purchasing Managers’ Index eased to five-month\ low in July thereby increasing doubts over health of the economy. Sell strategy given below 99.70 in GBPINR was successful pair drop towards first target of 99.55. However during closing hours it recovered and settled at 99.9050 levels. Intraday price action resulted in formation of hammer which is indicating for trend reversal in days to come. Intraday sell around 99.95-99.00. Target 99.55. Stop loss 100.05 cmp 99.8950 A break above 100.10 will expect to test again 100.50.
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