Sell GBPINR below 95.51 Target 94.97 SL 95.74 - GEPL Capital
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Chart for the day
GBPINR (HOURLY) - 95.535
Observation
* Prices of GBPINR have reversed by taking the resistance from the trend line which it is been respecting since February 2022.
* Prices on hourly time frame have started forming lower low formation pattern as well.
* We can also spot negative crossover on hourly timeframe where the prior trend was on downside.
* Prices on hourly time frame have closed below lower Bollinger band, which suggest increase in volatility for downside movement.
* RSI plotted on hourly time frame has sustained below 50 mark, Indicating lower momentum.
Inference
Sell below 95.51 Target 94.97 SL 95.74
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