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Published on 18/08/2022 8:24:41 AM | Source: Monarch Networth Capital Ltd

The GBP/INR futures pair has support at 95.90 levels whereas resistance is placed at 96.30 levels - Monarch Networth Capital

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CURRENCY TECHNICAL OUTLOOK

* The USD/INR futures pair has support at 79.40 levels whereas resistance is placed at 79.80 levels. The pair is expected to trade range bound until either side level is breached.

* The EUR/INR futures pair has support at 80.70 levels whereas resistance is placed at 81.30 levels. The pair is expected to trade range bound until either side level is breached.

* The GBP/INR futures pair has support at 95.90 levels whereas resistance is placed at 96.30 levels. The pair is expected to find resistance at higher levels and trade weak below 95.90 level up to 95.70 and 95.50 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 find resistance at higher levels and trade weak below 58.80 level up to 58.60 and 58.40 levels.

Strategy: Intraday

* GBPINR pair traded with negative bias and managed to closed below downward slopping resistance line in the last trading session

* The pair is likely to trade with negative bias and any pullback near immediate resistance of 96.30 level should be taken as selling opportunity targeting 95.90 – 95.70 levels on lower side

* For Intraday session, it has support at 95.90 – 95.70 levels whereas resistance is placed at 96.30- 96.50 levels

GBPINR (DAILY CHART)

 

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