Mtechtips MCX-SX GBPINR INTRADAY trading analysis 03-02-2016
Mtechtips MCX-SX GBPINR INTRADAY trading analysis 03-02-2016
Mtechtips Pound traded down Tuesday after a survey on United Kingdom’s construction sector showed growth slipping to a 9-month low in January amid concerns over falling crude prices. UK construction sector experiences growth slowdown at the start of 2016. January data pointed to a renewed slowdown in output growth across the UK construction sector. Construction PMI dropped to 55.0, down from 57.8 in December. Construction firms report lowest business confidence since December 2014. GBPINR remained below the near term resistance of 98.35 and after hitting a low of 97.7675 settled at 98.1550. A formation of Doji candle stick on EOD chart is yet indicating for bearishness in GBPINR, and any rise towards 98.60.98.70 is expect to attract huge selling pressure with stop loss above 98.90. Target 98.25-98.00.
WWW.MTECHTIPS.COM
07489294118-119
