Mtechtips MCX-SX GBPINR INTRADAY trading analysis 20-05-2016

Mtechtips MCX-SX GBPINR INTRADAY trading analysis 20-05-2016
MTECHTIPS :- The pound extended early gains on Thursday after data showing that U.K. retail sales jumped in April, despite a steep drop in clothing sales which may have been due to unseasonable weather.GBP-INR has made impressive bullish move for second consecutive day and after witnessed a gap up opening at 97.88 tested 98.7575 levels. A long bullish candle stick with break out of near term resistance 98.30 is indicating for momentum upside move in GBPINR. Hence, any dip towards 98.20-98.30 is expected to give buy opportunity for the target 98.60-99.00.
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