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Mtechtips MCX-SX GBPINR INTRADAY trading analysis 04-09-2015

Mtechtips MCX-SX GBPINR INTRADAY trading analysis 04-09-2015

Mtechtips Pound traded near three-month low Thursday on risk aversion ahead of European Central Bank’s interest rate decision and crucial employment data from the world’s largest economy set to release Friday.GBPINR had a volatile Thursday. After hitting a low 101.2925 it fluctuated around 101.65-101.75 levels and settled at 101.62 levels. Intraday price action resulted in formation of high wave candle stick which is indicating for trend reversal in days to come. Right now trading at 101.38. Sell will expect around 101.50-101.60. Target 101.00. Stop loss above 101.75.
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