GBPINR pair manage to sustain below downward sloping trend line - Monarch Networth Capital
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CURRENCY TECHNICAL OUTLOOK
* The USD/INR futures pair has support at 74.30 levels whereas resistance is placed at 74.70 levels. The pair is expected to range bound until either side level is breached
* The EUR/INR futures pair has support at 88.60 levels whereas resistance is placed at 89.00 levels. The pair is expected to find resistance at higher levels and trade weak below 88.60 level up to 88.45 and 88.30 levels
* The GBP/INR futures pair has support at 102.80 levels whereas resistance is placed at 103.20 levels. The pair is expected to find resistance at higher levels and trade weak below 103.00 level up to 102.80and 102.65 levels
* The JPY/INR futures pair has support at 67.20 levels whereas resistance is placed at 67.50 levels The pair is expected to range bound until either side level is breached
CHART OF THE DAY
Strategy: Intraday
* GBPINR pair manage to sustain below downward sloping trend line
* The pair is likely to trade with negative bias and any pullback near immediate resistance of 103.20 level should be taken as selling opportunity targeting 102.80 – 102.65 levels on lower side
* For Intraday session, it has support at 102.80 – 102.65 levels whereas resistance is placed at 103.20 – 103.35 levels
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