This Week GBPINR - Outlook : 18.11.2019
Join Whatsapp 9841986753
Whatsapp Number : 91-9094047040 / 91-9841986753
* After three weeks of consolidating, last week GBPINR pair experienced as sharp up move after opening at 91.40 and extended till 92.86 and finally settled at 92.53 mark gaining 1.29%.
* GBPINR pair which is on the strong positive note has surpassed the immediate resistance of 92.06 in the last week. Going forward, the next resistance as per the 61.8% retracement mark is placed at 93.15 and surpass above that will extend the pair till 95.40 then 96.50 as per long term trend line.
* The momentum indicator RSI has struck around the 65 mark for last few weeks and stochastic indicator continued to remain positive.
* Thus going forward, if GBPINR pair manages to surpass the above mentioned resistance of 93.15 then further up move can be seen till 95.40 and higher. Hence, we advice buying in GBPINR pair around 92.00 levels for the week.
* GBPINR pair which is on the strong positive note has surpassed the immediate resistance of 92.06 in the last week. Going forward, the next resistance as per the 61.8% retracement mark is placed at 93.15 and surpass above that will extend the pair till 95.40 then 96.50 as per long term trend line.
* The momentum indicator RSI has struck around the 65 mark for last few weeks and stochastic indicator continued to remain positive.
* Thus going forward, if GBPINR pair manages to surpass the above mentioned resistance of 93.15 then further up move can be seen till 95.40 and higher. Hence, we advice buying in GBPINR pair around 92.00 levels for the week.