Mtechtips MCX-SX GBPINR INTRADAY trading analysis 06-06-2016
MTECHTIPS :- Gbp inr future this week closed with loss at 97.37. After last week’s gains pound seen some profit booking and closed with losses against rupee. For next week, gbp inr future outlook remain bullish and expect strong recovery in pound as it is recovered against dollar in international forex and above 98.25 expect big short covering rally here.For next week, gbp inr future support zones are 96.6 and 96 while on upside 98.1 and 99.4 are resistances as well as target zones.On monthly chart also, pound will be bullish above 98.6 only. In that scenario expect long term targets around 99.9 and 103.8.