POUND INR Future Daily Chart Technical Analysis
Pound rupee future of December expiry on last trading session closed at 89.15 with loss. Pound is in absolute downtrend against rupee and heading lower and lower in oversold zone suggesting underlying strong selling. For month of December, pound rupee future below 91.4 resistance remain weak and sell on rise and targets for this months will be around 87.1 and then 84.8. Traders with short positions must trail stoploss around 90.1 and hold positions for targets 87.1 and then possibly 84.8.
Pound rupee future weekly chart technical analysis
Pound rupee future on weekly chart showing big losses for this week. This was forth losing week for pound and in these 4 weeks pound tumbled from highs of 95.77 to lows of almost 89. Total almost 7 rupee loss for pound and pound is below major weekly averages. On weekly chart, pound is now below support of 90 rupee and below it next long term support will be around 85 rupee.
Pound rupee future monthly chart technical analysis
Pound rupee future on monthly chart showing big losses for month of November. This was second losing month for pound and in these 2 months, pound tumbled from highs of almost 99 to lows of almost 89. Total almost 10 rupee loss for pound. In November, pound tumbled by almost 7 rupees.
Pound rupee below 90 and sustain on weekly closing basis then expect 85 and below levels in medium terms. Weekly chart indicators and oscillators are bearish and heading towards bottom.
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