Mtechtips MCX-SX GBPINR INTRADAY trading analysis 24-04-2017

Mtechtips MCX-SX GBPINR INTRADAY trading analysis 24-04-2017
MTECHTIPS:- Gbp inr weekly-strong reversal rally hit high of 83.1
Pound rupee future this week closed at 82.65 with gain. This was second positive week for pound after last 2 weeks strong fall.We saw strong reversal in pound on snap election news. On daily chart, gbp inr future given strong reversal at 79.8 just above 79.5 zone on news flow. We saw bullish trend breakout and pound achieved its first bullish swing target of 82.9 with great momentum. Above 82.9 next swing target zone will be 85+.on downside 82.2 and 81.5 are strong daily chart support zones. Pound remain buy on dips for next week for big upside targets.
From long term view, gbp inr future is heading towards 76.5 support as well as bearish target zone. On upside 88.5 remain as major resistance and below it pound long term outlook remain weak.
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