Mtechtips MCX-SX GBPINR INTRADAY trading analysis 07-09-2018

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Mtechtips MCX-SX GBPINR INTRADAY trading analysis 07-09-2018

MTECHTIPS:- Pound is Strongly strengthening against Indian Rupee .Currently Pound is in strong uptrend but volume is unsatisfactory The open interest is not increasing with trend . Cautious point is buying at higer levels seems decreasing. The GBPINR is now trading in oversold level. The GBPINR is now trading in oversold level. The oscillator is showing BUY signal For short term The current position is BUY and closed above 1 month high with volume signals up breakout.Positionally Support for GBPINR is 91.25-90.58-90.13-90.12-89.98-89.39-. Immediate resistance for GBPINR is 93.7 In medium term Pound is relatively strengthening against Euro- Dollar- Yen- In long term Pound is relatively strengthening against Euro- Dollar- Yen- Short term and Intraday Level of Pound with Rupee GBPINR closed above 1 week high with volume signals up breakoutCurrently GBPINR is in HOLD LONG position GBPINR has crossed the high so for short term better buy above 93.727 with stop at 91.6525 The GBPINR is now trading is approaching overbought level. The GBPINR is now trading is approaching overbought level. The oscillator is on SELL signal and GBPINR is coming down from overbought level Intraday Trend- Buy above 93.727 and keep stop below 92.754 Target is 94.038 next 94.539 Below 92.445 trend reversal can occur and next level is 91.946

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