Mtechtips MCX-SX GBPINR INTRADAY trading analysis 19-05-2017

Mtechtips MCX-SX GBPINR INTRADAY trading analysis 19-05-2017
MTECHTIPS:- Pound is Strongly strengthening against Indian Rupee .Currently Pound is in strong uptrend and the trend is supported with good volume The open interest is not increasing with trend . Cautious point is buying at higer levels seems decreasing. The GBPINR is now trading in oversold level. The GBPINR is now trading in oversold level. The oscillator is on SELL signal and GBPINR is coming down from overbought level For short term Pound is in HOLD LONG position and closed above 1 month high with volume signals up breakout.Positionally Support for GBPINR is 84.14-83.05-82.99-82.64-82.42-82.4-81.68-. Immediate resistance for GBPINR is 85.02
In long term Pound is relatively strengthening against Yen-
Short term and Intraday Level of Pound with Rupee

GBPINR closed above 1 week high with volume signals up breakoutCurrently GBPINR is in HOLD LONG position GBPINR is in sideways so for short term better buy above 85.13 or hold with stop at 82.6925 The next resistance will be at 84.6775 Yesterday the up movement was with volume this also confirm an up break out The oscillator is showing BUY signal
Intraday Trend- Buy above 85.13 and keep stop below 84.052 Target is 85.511 next 86.132 Below 83.672 trend reversal can occur and next level is 83.054
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