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Published on 1/06/2020 2:51:37 PM | Source: Choice Broking Pvt Ltd

Buy GBPINR (June) @ 93.70 SL 91.90 TGT 97.20 - Choice Broking

Posted in Currency Report| #Currency Tips #Choice Broking

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* On the Daily Chart, GBPINR (June) has breached above its “Bollinger Band Mean”, which indicates bullish presence in the pair.

* Moreover, price has sustained above its 50*200 SMA which confirms control in the hands of the bulls.

* Furthermore, GBPINR has. witnessed support near its “38.2% Fibonacci Retracement Level” which suggests a northward move in the counter.

* Also, Momentum indicator RSI (14) has breached above its 50 level, which confirms positive momentum,

* Additionally, ADX (14) has been moving in a positive crossover which indicates bullishness.

* Based on the above technical structure, we suggest a bullish movement in GBPINR (June) . = " towards the level 97.20 in the near term.

 

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