GBPINR Strategy : 22.08.2016
GBPINR which started recovering from the low of 86.37 continued to quote higher and ended with marginal gains at 68.08 on Friday. The pair has retracted 50% of the immediate fall and is heading towards the next resistance of 61.8% retracement i.e., 88.52. Although the momentum indicator RSI and MACD are on positive note, but the volume continued to be weak, indicating less
buying pressure at higher levels. By above analysis, we expect pair could once again turn lower after testing the resistance of 88.50
GBPINR which started recovering from the low of 86.37 continued to quote higher and ended with marginal gains at 68.08 on Friday. The pair has retracted 50% of the immediate fall and is heading towards the next resistance of 61.8% retracement i.e., 88.52. Although the momentum indicator RSI and MACD are on positive note, but the volume continued to be weak, indicating less
buying pressure at higher levels. By above analysis, we expect pair could once again turn lower after testing the resistance of 88.50
