This Week GBPINR - Outlook : 02.12.2019
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* In the last week, GBPINR pair opened the session with minor losses at 92.24 and from there it
reclaimed higher till 93.02 and finally settled at 92.75 mark.
* The GBPINR pair is strongly continuing its rally for last few weeks and extended till the 61.8%
retracement level of 93.02 and settled above the immediate resistance of 92.00. Ahead pair
surpassing above 93.02 will propel towards 95.30 then long term trend line resistance of 96.60.
* The momentum indicator RSI is slowly inching higher and currently stood at 63.50 mark and
stochastic indicator have already moved into over bought zone on weekly charts.
* Thus for the week, 92.00 mark will hold as a key immediate support and resistance is placed at
93.03. Pair surpassing above 93.03 will extend till immediate swing high of 95.40 mark. Hence we
recommend buying on minor dips around 92.30.
reclaimed higher till 93.02 and finally settled at 92.75 mark.
* The GBPINR pair is strongly continuing its rally for last few weeks and extended till the 61.8%
retracement level of 93.02 and settled above the immediate resistance of 92.00. Ahead pair
surpassing above 93.02 will propel towards 95.30 then long term trend line resistance of 96.60.
* The momentum indicator RSI is slowly inching higher and currently stood at 63.50 mark and
stochastic indicator have already moved into over bought zone on weekly charts.
* Thus for the week, 92.00 mark will hold as a key immediate support and resistance is placed at
93.03. Pair surpassing above 93.03 will extend till immediate swing high of 95.40 mark. Hence we
recommend buying on minor dips around 92.30.