Mtechtips MCX-SX GBPINR WEEKLY trading analysis 01-06-2015
Mtechtips GB pound rupee this week closed with loss. this was second weekly loss for uk pound vs. indian rupee. this week nse pound rupee hit high around 99.4 while low was at 97.85. total 1.55 rupee weekly range and closed near low with bearish outlook. nse pound rupee weekly chart price trend is bullish but momentum is building for bears on continue profit booking as well as fresh shorts. pound still trading above major average but with fresh sell signal on weekly indicators. on downside 96.8 and 96.3 are strong supports of moving averages. weekly chart macd is above zero with fresh sell signal. rsi is at 57 with sell signal and cci is at 55.from medium to long term view, nse pound rupee below 99 remain sell for downside targets of 96.8 and then 94.8. expect uptrend and short covering rally for nse pound rupee above 99 rupee levels only.