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Monday, April 24, 2017

GBPINR Intraday Outlook : 25.04.2017

GBPINR Intraday Outlook : 25.04.2017
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE

Pound is trading at 1.2798. British Pound has remained stable against US dollar despite declining in the wake of sub-forecast UK retail sales data out of the UK. All of the pound's gains occurred on Tuesday, after British PM May called a snap election, which will take place in June and is widely expected to see her Tory Party greatly increase its majority. Cable settled at 1.2800 into the N.Y. close bid. After a quiet week, the UK data schedule picks up next week, highlighted by the preliminary Q1 GDP estimate, which we expect to dip to 0.4% q/q growth from 0.7%.

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