Mtechtips MCX-SX GBPINR INTRADAY trading analysis 12-08-2016

Mtechtips MCX-SX GBPINR INTRADAY trading analysis 12-08-2016

MTECHTIPS Pound fell to one-month low Thursday as dollar strengthened after data from the world’s largest economy showed better-than-expected jobs openings in June.GBPINR retraced from the day high 87.3025 and tested 86.8025 before closing at 87.02. Near term trend expect to remain bearish and a break below 86.80 is expect to show 86.25-86.00 its next downside levels. On the other hand, strong resistance is seen at 87.40 and upwards move towards 87.70-88.00 will expect to come above this level only.

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