Mtechtips MCX-SX GBPINR INTRADAY trading analysis 19-06-2017

Mtechtips MCX-SX GBPINR INTRADAY trading analysis 19-06-2017
MTECHTIPS:- GBPINR – Bearish below 81.90 The pound dropped to fresh six-week lows against the U.S. dollar and Rupee on Friday, after the release of downbeat U.K. service sector data and as expectations for a March rate hike in the U.S. continued to support demand for the greenback. Sell strategy given around 84.00 was not initiated as pair remained below 83.60 levels. Technically, weekly price action resulted in formation of bearish candle stick which is indicating for weakness to continue. This week, a break below its previous swing low 81.90 expects to attract near term selling activities. On the upside, massive resistance is seen at 83.60 and pair would need to trade above it in order to test 84.00-84.55.
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