Mtechtips MCX-SX GBPINR INTRADAY trading analysis 21-01-2016
Wednesday, January 20, 2016 23:22
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Mtechtips MCX-SX GBPINR INTRADAY trading analysis 21-01-2016
Mtechtips Pound snapped a five-day fall Tuesday after UK posted better than expected inflation data amid short-covering after the currency pair dropped for five straight trading sessions.GBPINR witnessed recovery rally from the day low 96.0025 and tested 96.62. A high wave stick formation on EOD chart is indicating for bullish trend reversal. Hence, any dip towards 96.25-96-.35 could attract huge buying activities unless it gives a closing below 96.00. Target should be 96.65-96.90. Sustain trade below 96.00 only will expect to test 95.80-95.65.
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