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Mtechtips MCX-SX GBPINR INTRADAY trading analysis 11-09-2015

Mtechtips MCX-SX GBPINR INTRADAY trading analysis 11-09-2015
Mtechtips The pound rose to two-week highs against the dollar on Thursday after the Bank of England kept monetary policy unchanged and said recent market turmoil related to China’s slowdown hasn’t altered the view that the time for a rate increase is approaching.GBPINR fluctuated in between 102.50-102.80 on Thursday and settled at 102.63 levels. The intraday price action resulted in formation on high wave candle stick which is signaling for indecisive move in short term. But it’s expected a break above 103.05 will expect to give decent rally towards 103.30-103.50.Else failure of the breakout could result downside move towards 102.45 again.
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