GBPINR pair traded with positive bias and managed to sustain above upward sloping trend line in the last trading session - Monarch Networth Capital
CURRENCY TECHNICAL OUTLOOK
The USD/INR futures pair has support at 74.70 levels whereas resistance is placed at 75.20 levels. The pair is expected to trade range bound until either side level is breached.
The EUR/INR futures pair has support at 86.40 levels whereas resistance is placed at 86.90 levels. The pair is expected to trade range bound until either side level is breached.
The GBP/INR futures pair has support at 101.60 levels whereas resistance is placed at 102.00 levels. The pair is expected to trade firm above 102.00 levels up to 102.20 and 102.40 levels.
The JPY/INR future pair has support at 67.10 levels whereas resistance is placed at 67.40 levels. The pair is expected to trade weak below 67.10 levels up to 66.90 and 66.70 levels.
CHART OF THE DAY
GBPINR Oct (DAILY CHART)
Strategy: Intraday
GBPINR pair traded with positive bias and managed to sustain above upward sloping trend line in the last trading session
The pair is likely to trade with positive bias and any pullback near immediate support of 101.60 level should be taken as buying opportunity targeting 102.00 – 102.20 levels on higher side
For Intraday session, it has support at 101.60 – 101.40 levels whereas resistance is placed at 102.20 – 102.40 levels
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