The GBP/INR futures pair has support at 105.00 levels whereas resistance is placed at 105.30 levels - Monarch Networth Capital Ltd
CURRENCY TECHNICAL OUTLOOK
* The USD/INR futures pair has support at 83.20 levels whereas resistance is placed at 83.60 levels. The pair is expected to range bound until either side level is breached
* The EUR/INR futures pair has support at 90.20 levels whereas resistance is placed at 90.50 levels. The pair is expected to find support at lower level and trade firm above 90.50 level up to 90.60 and 90.70 levels
* The GBP/INR futures pair has support at 105.00 levels whereas resistance is placed at 105.30 levels. The pair is expected to find support at lower level and trade firm above 105.30 level up to 105.40 and 105.50 levels
* The JPY/INR futures pair has support at 55.00 levels whereas resistance is placed at 55.30 levels. The pair is expected to find resistance at higher level and trade weak below 55.00 level up to 54.90 and 54.80 levels
CHART OF THE DAY
GBPINR (DAILY CHART)
Strategy: Intraday
* GBPINR pair traded with negative bias in the last trading session; but prices are trading above upward trend line.
* The pair is likely to trade with positive bias and any pullback near immediate support of 105.00 level should be taken as buying opportunity targeting 105.30 – 105.40 levels on higher side
* For Intraday session, it has support at 105.00 – 104.90 levels whereas resistance is placed at 105.30 –105.40 levels
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