For Intraday session GBP/INR it has support at 98.50 - 98.30 levels - Monarch Networth Capital
CURRENCY TECHNICAL OUTLOOK
* The USD/INR futures pair has support at 81.50 levels whereas resistance is placed at 82.00 levels. The pair is expected to trade range bound until either side level is breached.
* The EUR/INR futures pair has support at 84.60 levels whereas resistance is placed at 85.10 levels. The pair is expected to find support at lower level and trade firm above 85.10 level up to 85.30 and 85.50 levels.
* The GBP/INR futures pair has support at 98.50 levels whereas resistance is placed at 99.00 levels. The pair is expected to find support at lower level and trade firm above 99.00 level up to 99.20 and 99.40 levels.
* The JPY/INR futures pair has support at 58.80 levels whereas resistance is placed at 59.20 levels. The pair is expected to trade range bound until either side level is breached.
CHART OF THE DAY
Strategy: Intraday
* GBPINR pair traded with positive bias and managed to closed above upward slopping support trend line in the last trading session
* The pair is likely to trade with positive bias and any pullback near immediate support of 98.50 level should be taken as buying opportunity targeting 99.00 – 99.20 levels on higher side
* For Intraday session, it has support at 98.50 – 98.30 levels whereas resistance is placed at 99.00 – 99.20 levels
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